Suryoday Small Finance Bank IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’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 Value | Rs 10 |
| Price Band | Rs 303 to 305 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 49 Shares |
| Listing Date | Mar 30, 2021 |
| Offer for Sale | Rs 333.76 Cr |
| Fresh Issue | Rs 248.58 Cr |
| IPO Size | Rs 582.34 Cr |
| Tick Size | Rs.1 |
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 IPO – Summary
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.
Check similar articles for this IPO
| Suryoday Small Finance Bank IPO GMP |
| Allotment Check-Suryoday Bank IPO |
Suryoday Small Finance Bank IPO Date
The opening and the closing date of IPO of Suryoday Small Finance Bank Limited is Mar 17, 2021 and Mar 19, 2021.
Suryoday Small Finance Bank Limited IPO Subscription
| Day / Date | QIB | NII | RII | Empl | Total Subscription |
| 1st Day – Mar 17 | 0.00x | 0.04x | 0.84x | 0.06x | 0.42x |
| 2nd Day – Mar 18 | 0.00x | 0.20x | 2.00x | 0.17x | 1.01x |
| 3rd Day – Mar 19 | 2.18x | 1.31x | 3.09x | 0.34x | 2.37x |
| Shares Offered or Net Issue | 3,718,614 | 2,788,961 | 6,507,575 | 500,000 | 13,515,150 |
The shares subscribed by the public will be updated here.
Check Suryoday Small Finance IPO LIVE Subscription
- Suryoday Small Finance Bank IPO LIVE Bid details on BSE
- Suryoday Small Finance Bank IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
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 | Mar 24, 2021 |
| Refunds Initiation | Mar 24, 2021 |
| Credit of Shares to Demat Account | Mar 25, 2021 |
| Share Listing Date | Mar 30, 2021 |
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.303 to 305
Suryoday Small Finance Bank IPO Equity Size
This Initial Public Issue of 19,093,070 Equity Shares of Rs.10 each for cash at a price of Rs.303 to 305 per equity share aggregating to Rs.582.34 Cr.
Suryoday Small Finance Bank IPO Share Offering
Fresh Issue: The Fresh Issue of 8,150,000 Equity Shares by their Company, aggregating to Rs.248.58 Cr,
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 10,943,070 Equity Shares of face value of Rs.10 each, aggregating Rs.333.76 Cr.
Suryoday Small Finance Bank IPO – Live Performance
The listing date of this IPO is Mar 30, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
Suryoday Small Finance Bank IPO Grey Market Premium
The Suryoday Small Finance Bank Limited IPO Grey Market Premium price is Rs 25-30, 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-Dec-20 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Total Assets | 63,504.09 | 53,645.22 | 37,612.03 | 21,559.64 |
| Total Revenue | 6,892.73 | 8,541.38 | 5,970.29 | 3,249.26 |
| Total Expense | 6,344.07 | 7,429.40 | 5,066.31 | 3,134.34 |
| Profit After Tax | 548.66 | 1,111.98 | 903.98 | 114.92 |
Earnings per Equity Share (in Millions)
| 31-Dec-20 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic | 6.19 | 13.41 | 13.35 | 1.76 |
| Diluted | 6.05 | 13.30 | 13.16 | 1.76 |
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:
- BASKAR BABU RAMACHANDRAN,
- P. SURENDRA PAI,
- P. S. JAGDISH AND
- 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 19,093,070 Equity Shares aggregating up to Rs.[●] million |
| of which: | |
| Fresh issue | Up to 8,150,000 Equity Shares aggregating up to Rs.[●] million |
| Offer For Sale |
Up to 10,943,070 Equity Shares aggregating up to Rs.[●] million |
| Employee Reservation Portion |
Up to 500,000 Equity Shares, aggregating up to Rs.[●] million |
| Net Issue to the Public | Up to 18,593,070 Equity Shares, aggregating up to Rs.[●] million |
| Of which: | |
| QIB Portion | Not more than 9,296,534 Equity Shares |
| Retail Investors Portion | Not less than 6,507,575 Equity Shares |
| Non-Institutional Investors Portion | Not less than 2,788,961 Equity Shares |
| Equity Shares outstanding prior to the Issue | 97,980,826 Equity Shares |
| Equity Shares outstanding after the Issue | 106,130,826 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 EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | 13.41 | 10.43 | – |
| 31-Mar-19 | 13.35 | 10.27 | – |
| 31-Mar-18 | 1.76 | 2.13 | 123.13 |
Suryoday Small Finance Bank IPO : Competitive Peers
| Face Value (Rs.) | P/E | EPS Basic (Rs.) | Return on Net Worth (%) | NAV per share (Rs.) | |
| Suryoday Small Finance Bank Limited* | 10 | [●] | 13.41 | 10.43 | 123.13 |
| Listed Peers | |||||
| Ujjivan Small Finance Bank Limited | 10 | 15.66 | 2.19 | 14.79 | 18.32 |
| CreditAccess Grameen Limited | 10 | 31.27 | 23.20 | 12.27 | 189.90 |
| Spandana Sphoorty Financial Limited | 10 | 10.13 | 56.21 | 13.40 | 408.29 |
| Bandhan Bank Limited | 10 | 15.91 | 18.78 | 41.08 | 94.37 |
| AU Small Finance Bank Limited | 10 | 31.90 | 22.78 | 51.95 | 142.20 |
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 Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Suryoday Small Finance Bank Limited IPO News
News 1 – Suryoday Small Finance Bank Limited IPO DRHP Download
Suryoday Small Finance Bank IPO Review FAQs
Ques – What is the Issue Size of Suryoday Small Finance Bank IPO?
Answer – The Company is making an initial public offer of 19,093,070 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on fresh issue, Offer for sale, and the net issue.
Ques – What is the Price band of Suryoday Small Finance Bank IPO?
Answer – The price band for this particular IPO, i.e. Suryoday Small Finance Bank IPO ranges between Rs 303 to 305. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Suryoday Small Finance Bank IPO Open Date?
Answer – The opening and closing date for Suryoday Small Finance Bank IPO have been updated. The IPO is set to open on Mar 17, 2021, while the closing date is set at Mar 19, 2021.
Ques – What is the Suryoday Small Finance Bank IPO Allotment Date?
Answer – We also have the news regarding the respective allotment dates of Suryoday Small Finance Bank IPO. Basis of Allotment finalization is on Mar 24, 2021, refund initiation is on Mar 24, 2021, credit of shares is on Mar 25, 2021 and share listing date is on Mar 30, 2021.
Ques – What is the Suryoday Small Finance Bank IPO Listing Date?
Answer – Shares of Suryoday Small Finance Bank shall be listed in the exchanges BSE and NSE. Date when the listing would be done is stagnant on Mar 30, 2021.
Ques – Who is the Registrar of Suryoday Small Finance BankIPO?
Answer – One of the reputed registrars are managing the issue of Suryoday Small Finance Bank IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on a lookout for.
Ques – Who is the Promoter of Suryoday Small Finance Bank IPO?
Answer – Here are the promoters of Suryoday Small Finance Bank – BASKAR BABU RAMACHANDRAN, P. SURENDRA PAI, P. S. JAGDISH AND G. V. ALANKARA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Suryoday Small Finance Bank IPO?
Answer – We have obtained the GMP of Suryoday Small Finance Bank IPO and it is NA. The further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Suryoday Small Finance Bank IPO good for Investment?
Answer – We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Suryoday Small Finance Bank Company?
Answer – We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Millions is 1,111.98, 2019 is 903.98, 2018 is 114.92. PAT from December 2020 is 548.66.
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