Ahead of IPO, Suryoday Small Finance Bank raises Rs 170 crore from anchor investors
Goldman Sachs (Singapore), Integrated Core Strategies Asia, India Max Investment Fund, Aditya Birla Sun Life Insurance, ICICI Lombard and SBI Life Insurance are some of the anchor investors.
March 16, 2021 / 09:22 PM IST
Suryoday Small Finance Bank on March 16 garnered Rs 170.12 crore from 13 anchor investors, ahead of its initial public offer that opens on March 17. The company plans to raise around Rs 581 crore from the issue.
The company, in consultation with merchant bankers, finalised the allocation of 55,77,920 equity shares to anchor investors, at a price of Rs 305 apiece, the company said in its BSE filing.
Anchor investors who participated in the offer were Goldman Sachs (Singapore), Integrated Core Strategies Asia, India Max Investment Fund, Aditya Birla Sun Life Insurance, ICICI Lombard, SBI Life Insurance, ICICI Prudential Life Insurance, Axis MF, IDFC MF and Ashoka India Opportunities Fund.
The IPO will close on March 19. The price band of the offer has been fixed at Rs 303 - Rs 305 per share.
Also read - Suryoday Small Finance Bank IPO opens tomorrow: 10 key things to know
The offer comprises a fresh issue of 81.50 lakh equity shares and an offer for sale (OFS) of 1.09 crore equity shares by existing selling shareholders including HDFC Holdings, Gaja Capital, IDFC First Bank, Kotak Mahindra Life Insurance and International Finance Corporation.
The small finance bank is going to use the net proceeds from fresh issue for augmenting its Tier – 1 capital base to meet future capital requirements.
Axis Capital, ICICI Securities, IIFL Securities and SBI Capital Markets are the book running lead managers to the issue.