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Suryoday Small Finance Bank IPO launches today; check price band, lot size, allotment date

Suryoday Small Finance Bank IPO launches today; check price band, lot size, allotment date
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Suryoday Small Finance Bank IPO launches today; check price band, lot size, allotment date

Suryoday Small Finance Bank IPO launches at the moment; check price band, lot dimension, allotment date

IPO

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

The preliminary public providing (IPO) of Suryoday Small Finance Bank has been launched at the moment, 17 March. The Suryoday IPO will shut for subscription two days in a while 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.

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

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

The problem has been listed on BSE and Nationwide Inventory Alternate. Kfin Applied sciences Personal Ltd is the registrar of the difficulty. As a lot as 50 p.c of the Suryoday IPO is reserved for certified institutional consumers, 35 p.c is reserved for retail buyers and 15 p.c is for non-institutional buyers.

Funds raised from the Suryoday IPO are going for use for the financial institution’s tier-1 capital base so as to fulfill the longer term 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 have been issued at a price of Rs 291.75 per share to Axis Flexi Cap Fund, SBI Life Insurance coverage, Kiran Vyapar and Axis Fairness Hybrid Fund.

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