Suryoday SFB IPO Details
Suryoday SFB IPO description – Suryoday Small Finance Bank is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in FY2020.
Prior to commencement of operations as an SFB in January 2017, the company operated as an NBFC – MFI carrying out microfinance operations through the joint liability group-lending model for providing collateral-free, small ticket-size loans to economically active women belonging to weaker sections.
Over the years, it has diversified its loan portfolio to include nonmicro banking loans. The company commenced its microfinance operations in 2009 and has since expanded operations across 12 states and union territories, as of 31 July 2020. Its customer base stood at 1.43 million and its employee base comprised 3,949 employees and it operated 482 Banking Outlets including 137 Unbanked Rural Centres (URCs). As of 31 March 2020, 32.72%, 29.72% and 30.80% of its Gross Advances were from metropolitan, urban and semi-urban areas (based on branch locations as classified by the RBI), respectively.
Promoters of Suryoday SFB – Baskar Babu Ramachandran, P Surendra Pai, Ps Jagdish And Gv Alankara
| Suryoday SFB IPO details | |
| Subscription Dates | 17 – 19 March 2021 |
| Price Band | INR303 – 305 per share |
| Fresh issue | 8,150,000 shares (INR246.94 – 248.57 crore)  |
| Offer For Sale | 10,943,070 shares (INR331.57 – 333.76 crore) |
| Total IPO size | 19,093,070 shares (INR578.52 – 582.34 crore) |
| Minimum bid (lot size) | 49 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
|
Suryoday SFB’sfinancial performance (in INR crore) |
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| Â | FY2018 | FY2019 | FY2020 | 9M FY2021 |
| Revenue | 324.9 | 597.0 | 854.1 | 689.3 |
| Expenses | 313.4 | 506.6 | 742.9 | 634.4 |
| Net income | 11.5 | 90.4 | 111.2 | 54.9 |
| Net margin (%) | 3.5 | 15.1 | 13.0 | 8.0 |
More about Suryoday SFB IPO
Registrar of Suryoday SFB IPO
KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone:Â +91 40 6716 2222Â
Fax:Â +91 40 2343 1551Â
Email: [email protected]
Website:Â www.kfintech.com
Suryoday SFB Contact Details
Suryoday Small Finance Bank Limited
Unit No. 1101, Sharda Terraces,
Plot No. 65, Sector 11,
CBD Belapur, Navi Mumbai 400 614
Phone: +91 22 4043 5800
Email: [email protected]
Website:Â www.suryodaybank.com
Valuation of Suryoday SFB (as of FY2020)
Earnings Per Share (EPS): INR13.3Â
Price/Earnings (PE ratio): 22.78 – 22.93
Return on Net Worth (RONW): 10.43%
Net Asset Value (NAV): INR123.13 per share
Suryoday SFB IPO Subscription Details
| Category | Shares offered | Subscription (no. of times, at 5 PM) | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 37,18,614 | 0.00 | 0.00 | 2.19 |
| NII | 27,88,961 | 0.04 | 0.20 | 1.32 |
| Retail | 65,07,575 | 0.84 | 2.01 | 3.09 |
| Employee | 5,00,000 | 0.06 | 0.17 | 0.33 |
| Total | 1,35,15,150 | 0.42 | 1.02 | 2.37 |
Suryoday SFB IPO Analyst Reviews
Anand Rathi – Subscribe
Arihant Capital – Avoid
Choice Broking – Avoid
Elite Wealth – Avoid
GEPL Capital – Subscribe
ICICIdirect – Not Rated
LKP Securities – Subscribe
Samco Securities – Avoid
Ventura Securities – Not Rated
Suryoday SFB IPO Allotment Status
Suryoday SFB IPO allotment status is now available on KFin Technologies’ website. Click on this link to get allotment status.Â
Listing Performance of Suryoday Small Finance Bank
IPO Opening Date: 17 March 2021
IPO Closing Date: 19 March 2021
Finalisation of Basis of Allotment: 24 March 2021
Initiation of refunds: 24 March 2021
Transfer of shares to demat accounts: 25 March 2021
Listing Date: 30 March 2021
Opening Price on NSE: INR292 per share (down 4.26% from IPO price)Â
Closing Price on NSE: INR277.8 per share (down 8.92% from IPO price)Â
