The bank’s IPO was open for subscription between March 17 and 19. The price band was Rs 303-305 per equity share with a minimum lot size of 49 shares amounting to Rs 14,945.
The Suryoday Small Finance Bank IPO was subscribed 2.37 times on day 3 of bidding.
The allotment status will be finalised around March 24.
Here’s how you can check the allotment status :
Once the allotment status is finalized, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, scroll down the homepage to see the ‘IPOs’ section.
Step 2: Click on IPOs. On the next page click on the ‘Status’ tab next to the Suryodaya Bank IPO (or any other IPO you had applied for). The status tab will not be visible if you have not applied for the IPO.
Step 3: If you have received the allotment in the IPO, ‘Allotted’ will be written next to your application number. Or else, the status will show as ‘Rejected’. It will show as ‘Approved’ till the allotment is finalized.
After you land on the website’s IPO status page, you will see a drop-down menu that says ‘Select Menu’.
Step 1: Investors are required to follow this link to check their IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx.
Step 2: You will then have to select the ‘Equity’ option and then from the dropdown, select issue name – ‘Suryodaya Bank’.
Step 3: You will have to enter your application number and PAN card number next.
Step 4: After completing all the above-mentioned steps click on the “Search” button.
How do I know if I have received Suryodaya Bank Allotment or not?
The steps have been explained above.
What happens to the IPO amount in my bank account?
After applying for an IPO, the amount gets blocked for use from your account. Therefore, the money is still showing in your balance but is blocked for use.
How are the Suryodaya Bank shares being allotted?
If Suryodaya Bank IPO is oversubscribed, the shares will be distributed proportionately among investors so that each investor gets a minimum of one lot. This is done on a lottery basis, so there cannot be a guarantee that you will get the shares. It is possible that few investors do not get any shares at all, in case of over-subscription.
Will my money come back if I don’t get Suryodaya Bank IPO allotment?
If you don’t get the allotment in Suryodaya Bank IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
When will Suryodaya Bank IPO get listed?
Suryodaya bank shares will get listed on BSE and NSE on March 30, 2021.(tentative)