Suryoday Small Finance Bank Ltd IPO

Suryoday Small Finance Bank will open on Wednesday, March 17, along side Nazara Technologies Ltd. The issue will close on March 19, Friday. The Company set it's price band at ₹303-305/Share. 

Suryoday SFB plans to raise ₹581 crore through the issue. The issue comprises a fresh issue of up to 8,150,000 shares and an offer for sale of up to 10,943,070 shares.

The Suryoday Small Finance Bank Ltd IPO market lot size is 49 shares. A retail-individual investor can apply for up to 13 lots (637 shares at ₹194,285).

Suryoday SFB Ltd IPO Tentative Timetable

Suryoday Small Finance Bank Ltd is a leading Small Finance Bank(SFB) in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC.

As of July 31, 2020, the company had 482 Banking Outlets and had a customer base of ₹14.3 lakh. The company operates predominantly in urban and semi-urban locations.