Suryoday Small Finance Bank IPO – Review, Allotment, Subscription, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Suryoday Small Finance Bank IPO release date, IPO offer price, subscription, Suryoday Small Finance Bank Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs [●]
Listing AtBSE, NSE
Min. Order QuantityNA
Listing Date NA
Offer for SaleRs MILLION
Fresh IssueRs MILLION
IPO SizeRs MILLION
Tick SizeNA

Suryoday Small Finance Bank IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Suryoday Small Finance Bank Share Price – Live Performance

Suryoday Small Finance Bank IPO – Summary

Suryoday Small Finance Bank IPO

They were 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 Fiscal 2020.

They have for over a decade been serving customers in the unbanked and underbanked segments in India and promoting financial inclusion. Pursuant to receipt of the RBI Final Approval, they started operations as an SFB on January 23, 2017.

They were included in the second schedule to the RBI Act, as a scheduled bank pursuant to a notification dated July 24, 2017, issued by the RBI and published in the gazette of India dated September 2, 2017.

Prior to commencement of operations as an SFB, they operated as an NBFC – MFI carrying out microfinance operations and operated the joint liability group-lending model for providing collateral-free, small ticket-size loans to economically active women belonging to weaker sections.

The Promoters of this company are BASKAR BABU RAMACHANDRAN, P. SURENDRA PAI, P. S. JAGDISH AND G. V. ALANKARA. The lead managers to the issue are Axis Capital Limited, ICICI Securities Limited, IIFL Securities Limited, SBI Capital Markets Limited, and the Registrar to this issue is KFin Technologies Private Limited.


Suryoday Small Finance Bank IPO Date

The opening and the closing date of IPO of Suryoday Small Finance Bank Limited is not available yet.


Suryoday Small Finance Bank Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day –  
3rd Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Suryoday Small Finance Bank Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Suryoday Small Finance Bank Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Suryoday Small Finance Bank IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs.[●] 


Suryoday Small Finance Bank IPO Equity Size

This Initial Public Issue of 20,061,796 Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] million.


Suryoday Small Finance Bank IPO Share Offering

Fresh Issue: The Fresh Issue of 11,595,000 Equity Shares by their Company, aggregating to Rs.[●] million,

Issue Size: The initial public offer of Equity Shares comprising the Fresh Issue and the Offer for Sale.

Offer for Sale: Offer for sale consists of Up to 8,466,796 Equity Shares of face value of Rs.10 each, aggregating Rs.[●] million.


Suryoday Small Finance Bank IPO – Live Performance

The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Suryoday Small Finance Bank Share Price

Suryoday Small Finance Bank IPO Grey Market Premium

The Suryoday Small Finance Bank Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Suryoday Small Finance Bank IPO – Company Overview

They commenced their microfinance operations in 2009 and have since expanded their operations across 12 states and union territories, as of July 31, 2020. As of July 31, 2020, their customer base was 1.43 million and their employee base comprised 3,949 employees and they operated 482 Banking Outlets including 137 Unbanked Rural Centres (“URCs”).

Their delivery platform also includes partnering with business correspondents (“BCs”) for sourcing both asset and liability business and have expanded their network and presence through their reach to promote financial inclusion.

They have arrangements with various payment banks in India and have been able to leverage their relationship with such payment banks to grow their deposit base. Their distribution network also comprises their ATMs, phone banking, mobile banking, tablet banking, unified payment interface and internet banking services.

Their operations are predominantly in urban and semi-urban locations due to greater income earning capabilities and employment opportunities in such areas compared with rural regions.

Suryoday Small Finance Bank IPO Business Verticals

They currently offer a variety of asset and liability products and services designed for inclusive finance and general banking customers. Their asset products consist of their inclusive finance portfolio (comprising loans to JLG customers), commercial vehicle loans, affordable housing loans, micro business loans, unsecured micro and small enterprise and small and medium enterprise loans, secured business loans, financial intermediary group loans and other loans.


Suryoday Small Finance Bank IPO – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & millions)
31-Mar-20Mar-1931-Mar-18
Total Assets53,645.2237,612.0321,559.64
Total Revenue8,541.385,970.293,249.26
Total Expense7,429.405,066.313,134.34
Profit After Tax2,074.741,312.67644.99

Earnings per Equity Share (in Millions)

31-Mar-20Mar-1931-Mar-18
Basic13.4113.351.76
Diluted13.3013.161.76

Their Gross Loan Portfolio has grown at a CAGR of 46.98% from Rs.17,177.84 million as of March 31, 2018 to Rs.37,108.42 million as of March 31, 2020.

Their deposits have grown at a CAGR of 94.95% from Rs.7,495.22 million as of March 31, 2018 to Rs.28,487.15 million as of March 31, 2020. As of March 31, 2020, retail deposits comprised 54.44% of their total deposits

As of March 31, 2018, 2019 and 2020 their CRAR was 37.53% (Tier I capital of 34.79%), 35.03% (Tier I capital of 33.67%), and 29.57% (Tier I capital of 28.61%) respectively and was the highest among all SFBs in India as of March 31, 2020.

Then, As of March 31, 2020, their Bank’s gross NPAs were Rs.1,012.50 million, 2.79% of gross advances, and net NPAs were Rs.203.74 million, or 0.57% of net advances.


Suryoday Small Finance Bank Limited IPO – Promoters

The Promoter of this company are:

  1. BASKAR BABU RAMACHANDRAN,
  2. P. SURENDRA PAI,
  3. P. S. JAGDISH AND
  4. G. V. ALANKARA

List of Related Parties (Key Managerial Personnel)

  • Baskar Babu Ramachandran, Managing Director and Chief Executive Officer
  • Bhavin Damania, Chief Financial Officer
  • Geeta Krishnan, Company Secretary and Compliance Officer

Competitive Strengths of Suryoday Small Finance Bank Limited

  • Customer centric approach with a focus on financial inclusion
  • Diversified asset portfolio with a focus on retail operations
  • Fast evolving granular deposit franchise
  • Leveraging emerging technologies to enhance digital footprint
  • Strong credit processes and robust risk management framework
  • Track record of strong financial performance and cost efficient operations
  • Multiple distribution channels
  • Experienced leadership team, professional management and strong corporate governance

Suryoday Small Finance Bank Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to 20,061,796 Equity Shares aggregating up to Rs.[●] million
of which:
Fresh issueUp to 11,595,000 Equity Shares aggregating up to Rs.[●]
million
Offer For Sale
Up to 8,466,796 Equity Shares aggregating up to Rs.[●]
million
Employee Reservation Portion
Up to [●] Equity Shares, aggregating up to Rs.[●] million
 Net Issue to the Public Up to [●] Equity Shares, aggregating up to Rs.[●] million
Of which:
QIB PortionNot more than [●] Equity Shares
 Retail Investors Portion Not less than [●] Equity Shares
 Non-Retail Investors PortionNot less  than [●] Equity Shares
 Equity Shares outstanding prior to the Issue89,124,381 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Suryoday Small Finance Bank IPO Issue Object

Their Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting their Bank’s Tier – 1 capital base to meet their Bank’s future capital requirements.

Their Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.

Business strategies of Suryoday Small Finance Bank Limited

  • Expand their asset portfolio while focusing on secured lending
  • Strengthen their retail liability franchise
  • Continue to focus on technology and data analytics to grow operations
  • Expand geographic presence and penetrate further into existing geographies

Suryoday Small Finance Bank Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Customer centric approach with a focus on financial inclusion;
  • Diversified asset portfolio with a focus on retail operations;
  • Fast evolving granular deposit franchise;
  • Leveraging emerging technologies to enhance digital footprint;
  • Strong credit processes and robust risk management framework;
  • Track record of strong financial performance and cost efficient operations;
  • Multiple distribution channels; and
  • Experienced leadership team, professional management and strong corporate governance.

The relevant quantitative factors are:

Basic EPSRONW (%)NAV (Rs.)
31-Mar-2013.4110.43
31-Mar-1913.3510.27
31-Mar-181.762.13123.13

Suryoday Small Finance Bank IPO : Competitive Peers

Face Value (Rs.)P/EEPS Basic (Rs.)Return on Net Worth (%)NAV per share (Rs.)
Suryoday Small Finance Bank Limited*10[●]13.4110.43123.13
Listed Peers
Ujjivan Small Finance Bank Limited1015.662.1914.7918.32
CreditAccess Grameen Limited1031.2723.2012.27189.90
Spandana Sphoorty Financial Limited1010.1356.2113.40408.29
Bandhan Bank Limited1015.9118.7841.0894.37
AU Small Finance Bank Limited1031.9022.7851.95142.20

Suryoday Small Finance Bank IPO Lead Managers

Lead Managers
Axis Capital Limited

ICICI Securities Limited

IIFL Securities Limited

SBI Capital Markets Limited

Suryoday Small Finance Bank IPO Registrar to offer

Registrar to the Offer
Kfin Technologies Private Limited
(formerly known as Karvy Fintech Private Limited)
Selenium, Tower B, Plot No. – 31 and 32 Financial
District Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032
Telangana, India
Tel: +91 40 6716 2222
E-mail: suryodayasfb.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance ID: einward.ris@kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration Number: INR000000221

Suryoday Small Finance Bank IPO – Other Details

  • Statutory Auditor – MSKC & Associates, Chartered Accountants
  • Legal Counsel to the Company – Cyril Amarchand Mangaldas
  • Bankers to the Company –  [●]


Suryoday Small Finance Bank Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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