Suryoday Small Finance Bank IPO launches at present; check price band, lot dimension, allotment date – Business News , Firstpost

An investor can bid for a most variety of 637 shares which might be value Rs 1,94,285

The preliminary public providing (IPO) of Suryoday Small Finance Bank has been launched at present, 17 March. The Suryoday IPO will shut for subscription two days afterward Friday, 19 March.

The IPO of the financial institution that was established in 2008 has a price band of Rs 303-305 per share. With a dimension of 19.09 million shares, the lot dimension is Rs 582.33-crore.

Based in Mumbai, Suryoday Bank is the one financial institution from Maharashtra with a Small Finance Bank license from the Reserve Bank of India, in keeping with its web site.

The lot dimension of the Suryoday IPO is 49 shares and one investor can bid for as many as 13 heaps. An investor can bid for a most variety of 637 shares which might be value Rs 1,94,285.

The allotment date for Suryoday IPO is 24 March and refunds might be initiated on the identical day. Shares of the Suryoday IPO might be credited on 25 March and the itemizing date of shares is 31 March.

The subject has been listed on BSE and National Stock Exchange. Kfin Technologies Private Ltd is the registrar of the difficulty. As a lot as 50 p.c of the Suryoday IPO is reserved for certified institutional patrons, 35 p.c is reserved for retail traders and 15 p.c is for non-institutional traders.

Funds raised from the Suryoday IPO are going for use for the financial institution’s tier-1 capital base in an effort to fulfill the long run capital necessities of Suryoday Small Finance Bank.

Reportedly, a pre-IPO placement of 5,208,226 shares was undertaken by the financial institution which raised Rs 152 crores. These shares had been issued at a price of Rs 291.75 per share to Axis Flexi Cap Fund, SBI Life Insurance, Kiran Vyapar and Axis Equity Hybrid Fund.

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