The three-day initial public offer (IPO) by Suryoday Small Finance Bank (SFB) is slated to open on Wednesday, March 17 along with the much-awaited issue by Rakesh Jhunjhunwala-backed Nazara Technologies.
The IPO is a mix of an offer for sale (OFS) and a fresh issue in which the company is looking to sell 1.9 crore shares, priced in the range of Rs 303-305 per share to raise up to Rs 581 crore. Investors can bid for a minimum of 49 shares and in multiples thereof. The bank proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier – 1 capital base and to meet future capital requirements.