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Suryoday Small Finance Bank IPO share allocation expected in coming week; check via 2 options

Suryoday shares were trading at Rs 330-335 in the grey market, a premium of Rs 25-30, or 8-10 percent, over the issue price of Rs 305 a share, IPO Watch data shows.

March 21, 2021 / 02:23 PM IST
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Suryoday Small Finance Bank is expected to finalise the IPO share allotment around March 24. The public issue closed for subscription on March 19 after getting bids 2.37 times the IPO size.

The company raised Rs 582.3 crore through its public issue, which opened for bidding on March 17. The net proceeds from the fresh issue will get utilised towards augmenting its Tier –1 capital base to meet capital requirements.

The small finance bank was 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 FY20.

It was mandatory for Suryoday to list on the bourses as it had completed three years after getting the licence from the Reserve Bank of India. The central bank had in 2017 given Suryoday the licence to function as a small finance bank.

Suryoday shares were traded at Rs 330-335 in the grey market, which is a premium of Rs 25-30 or 8-10 percent over the higher issue price band of Rs 305 per share, the IPO Watch data showed.

Investors can check the IPO share allotment through two options. The small finance bank in consultation with merchant bankers will finalise share allocation around March 24, as per the schedule available in the red herring prospectus.

The allotment can be checked on the website of IPO registrar in three easy steps:

a) Select 'Suryoday Small Finance Bank Limited IPO' in the dropdown menu;

b) In case of the application number option, select ASBA/NON ASBA and enter the application number, In case of DPID/client ID option, select NSDL/CDSL, enter DPID and Client ID,

In case your are using permanent account number, enter the PAN

c) Type in Captcha and click on submit to know the allotment status.

Investors can also check the allotment status on BSE website. Select issue type 'equity', select issue name as 'Suryoday Small Finance Bank Limited', enter application number and PAN, and finally click on search to know whether shares have been allotted.

If the information provided by the investor is correct, then the number of shares subscribed for and the number of shares allotted to will be available on the screen.

Also readNazara Technologies likely to finalise IPO share allotment next week; here's how to check the status

On completion of the allotment, the funds put in for IPO will be refunded around March 24 and eligible investors will get shares in their demat accounts around March 25. The trading in shares will begin from March 30.

Also readBarbeque Nation Hospitality IPO opens on March 24, price band fixed at Rs 498-500
Moneycontrol News
first published: Mar 21, 2021 02:23 pm