InvestorQ : Can you throw some light on the IPO of Suryoday Small Finance Bank that is opening in the coming week?
sarah Leo made post

Can you throw some light on the IPO of Suryoday Small Finance Bank that is opening in the coming week?

Answer
image
Rashi Mehra answered.
4 weeks ago
Follow

In a string of IPOs expected next week, Suryoday Small Finance Bank or Suryoday SFB has set the price a band for its initial public offer at Rs.303-305 per share. The IPO will open for public subscription on March 17 and will close for subscription on the 19 of March. The IPO overall is worth Rs.600 crore.

The IPO consists of a fresh issue of Rs 250 crore and an additional offer for sale of OFS of up to Rs 350 crore by some of the existing shareholders. That would take the total size of the IPO to Rs.600 crore. While the issue will be open from 17 March to 19 March, the anchor investor bidding will be done on 16 March which will provide the benchmark for investors and also a indicator of institutional appetite.

There are a number of marquee early investors that are offering their shares through the OFS route in this public issue. For example, the marquee names offering shares through OFS include International Finance Corporation or IFS, Gaja Capital, DWM International Mauritius, HDFC Holdings, IDFC First Bank, Americorp Ventures, Kotak Mahindra Life Insurance among others. Clearly there is a lot of monetization that is happening in the stock.

2 Views