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Subscribe to Suryoday Small Finance Bank: Hem Securities

Hem Securities has come out with its report on Suryoday Small Finance Bank. The research firm has recommended to ''Subscribe'' the ipo in its research report as on March 16, 2021.

March 18, 2021 / 12:49 PM IST
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Todays L/H

Hem Securities IPO report on Suryoday Small Finance Bank

Suryoday SFB commenced microfinance operations in 2009 and have since expanded its operations. As of December 31, 2020, bank’s customer base was 1.44 million and its employee base comprised 4,770 employees and bank operated 554 Banking Outlets including 153 Unbanked Rural Centres (“URCs”).

Valuation and Outlook

Although bank is fast evolving deposit francise with sustainable return profile & significant AUM growth but looking after valuations which we find a little higher we recommend “Long term Subscribe” on the issue.

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