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The Suryoday Small Finance Bank IPO is open for subscription between March 17 and 19. The price band for the issue is Rs 303-305 per share.

March 26: Listing Day

  • The shares of Suryoday Small Finance Bank listed at a 4.2% discount at Rs 292 per share on the NSE.
  • The share price listed at Rs 293 on the BSE, a discount of 3.93%.

March 19: Day 3

As of 5.00 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 2.37 times on day 3 of bidding.
  • The IPO received 3.2 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

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  • Qualified institutional buyers (QIB): 2.18 times the reserved portion
  • Non-institutional buyers (NII): 1.31 times the reserved portion
  • Retail individual investors: 3.09 times the reserved portion
  • Employees: 0.34 times the reserved portion

As of 3.30 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 2.25 times so far on day 3 of bidding.
  • The IPO received 3.04 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): 2.01 times the reserved portion
  • Non-institutional buyers (NII): 1.19 times the reserved portion
  • Retail individual investors: 3.0 times the reserved portion
  • Employees: 0.28 times the reserved portion

As of 11.10 a.m.

  • The Suryoday Small Finance Bank IPO was subscribed 1.22 times so far on day 3 of bidding.
  • The IPO received 1.64 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): 0.26 times the reserved portion
  • Non-institutional buyers (NII): 0.21 times the reserved portion
  • Retail individual investors: 2.28 times the reserved portion
  • Employees: 0.20 times the reserved portion

March 18: Day 2

As of 5.00 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 1.01 times on day 2 of bidding.
  • The IPO received 1.36 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • Non-institutional buyers (NII): 0.20 times the reserved portion
  • Retail individual investors: 2.00 times the reserved portion
  • Employees: 0.17 times the reserved portion

As of 3.50 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.88 times so far on day 2 of bidding.
  • The IPO received 1.18 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • Non-institutional buyers (NII): 0.13 times the reserved portion
  • Retail individual investors: 1.75 times the reserved portion
  • Employees: 0.11 times the reserved portion

As of 2.20 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.78 times so far on day 2 of bidding.
  • The IPO received 1.05 crore shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): 0.00 times the reserved portion
  • Non-institutional buyers (NII): 0.13 times the reserved portion
  • Retail individual investors: 1.55 times the reserved portion
  • Employees: 0.09 times the reserved portion

As of 11.20 a.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.65 times so far on day 2 of bidding.
  • The IPO received 88.29 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.06 times the reserved portion
  • Retail individual investors: 1.32 times the reserved portion
  • Employees: 0.08 times the reserved portion

March 17: Day 1

As of 7.00 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.42 times so far on day 1 of bidding.
  • The IPO received 56.32 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.04 times the reserved portion
  • Retail individual investors: 0.84 times the reserved portion
  • Employees: 0.06 times the reserved portion

As of 5.20 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.42 times so far on day 1 of bidding.
  • The IPO received 56.32 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.04 times the reserved portion
  • Retail individual investors: 0.84 times the reserved portion
  • Employees: 0.06 times the reserved portion

As of 3.40 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.3 times so far on day 1 of bidding.
  • The IPO received 40.12 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.02 times the reserved portion
  • Retail individual investors: 0.61 times the reserved portion
  • Employees: 0.01 times the reserved portion

As of 1.00 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.2 times so far on day 1 of bidding.
  • The IPO received 26.58 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.0 times the reserved portion
  • Retail individual investors: 0.41 times the reserved portion
  • Employees: 0.01 times the reserved portion

As of 11.40 p.m.

  • The Suryoday Small Finance Bank IPO was subscribed 0.13 times so far on day 1 of bidding.
  • The IPO received 17.45 lakh shares as against an offer size of 1.35 crore shares.

Subscription Status

  • Qualified institutional buyers (QIB): Not bid yet
  • Non-institutional buyers (NII): 0.0 times the reserved portion
  • Retail individual investors: 0.27 times the reserved portion
  • Employees: 0.01 times the reserved portion

March 16: Funds Raised From Anchor Investors

Suryoday Small Finance Bank IPO raised Rs 170 crores in its anchor investors bidding round on March 16. 13 anchor investors participated. The shares were allocated at Rs 305 per share, which is the upper end of the price band.
Around 55.77 lakh shares will be allocated to the anchor investors in the anchor book bidding round.

A few of the anchor investors who participated are:

  • 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 Mutual Fund
  • IDFC Mutua Fund
  • Ashoka India Opportunities Fund

More About the IPO

The Suryoday IPO offer comprises a fresh issue of 81.5 lakh shares and an offer for sale (OFS) of 1.09 crore shares.
Existing shareholders who are offloading their stake in the OFS are:

  • HDFC Holdings
  • Gaja Capital
  • IDFC First Bank
  • Kotak Mahindra Life Insurance
  • International Finance Corporation
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