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Suryoday SFB fixes IPO price band at Rs 303-305 per equity share business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
KOLKATA: Suryoday Small Finance Bank has fixed a price band of Rs 303-305 per equity share for its initial public offer (IPO) which will hit the market on March 17. The bank would offer Rs 30 discount per share to its employees.
The size of the public issue would be Rs 582 crore considering the upper end of the price band. The issue will close on March 19. Size of the primary issue would be about Rs 249 crore while it also includes offer for sale worth Rs 333 crore.
International Finance Corporation-backed Suryoday will be the fourth small finance bank to go public after AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. Unlike Equitas and Ujjivan, Suryoday has no holding company.
KOLKATA: Suryoday Small Finance Bank has raised Rs 150 crore from SBI Life Insurance Company and Axis Asset Management Company in a pre-IPO placement, valuing the bank at Rs 2,700 crore
The pre-IPO placement was made at Rs 291.75 a share ahead of its likely initial public share sale that seeks to garner Rs 550-600 crore. The public issue is likely later this month. The bank may attract 5-10% premium over the pre IPO price, people involved in the process said. Pre-IPO purchases of shares cannot be offloaded for a year.
A pre-IPO placement is a sale of a large chunk of shares ahead of an IPO. Normally, the price of equity shares at the time of public offer comes at a premium over the pre-IPO price.
KOLKATA: Suryoday Small Finance Bank has raised Rs 150 crore from SBI Life Insurance Company and Axis Asset Management Company in a pre-IPO placement, valuing the bank at Rs 2,700 crore
The pre-IPO placement was made at Rs 291.75 a share ahead of its likely initial public share sale that seeks to garner Rs 550-600 crore. The public issue is likely later this month. The bank may attract 5-10% premium over the pre IPO price, people involved in the process said. Pre-IPO purchases of shares cannot be offloaded for a year.
A pre-IPO placement is a sale of a large chunk of shares ahead of an IPO. Normally, the price of equity shares at the time of public offer comes at a premium over the pre-IPO price.