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Suryoday Small Finance Bank IPO Day 2: Issue subscribed 73%, NII portion booked 8%

Sumary of Suryoday Small Finance Bank IPO Day 2: Issue subscribed 73%, NII portion booked 8%:

  • Suryoday Small Finance Bank’s public offer was subscribed 73 percent by noon on March 18, the second day of bidding, receiving bids for 98.89 lakh equity shares against the issue size of 1.35 crore equity shares…
  • Incorporated in November 2008, Suryoday is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in FY20…
  • After receiving small finance bank license in 2017, the company has consistently grown on advances as well as deposits front, with stable asset quality and improved secured loans contribution to total advances, said Canara Bank Securities…
  • SSFB is available at a P/B of 2.28x for 9MFY21, which is fairly valued among the listed small finance banks, the brokerage said…
  • Do read what Moneycontrol’s in-house research team has to say about Suryoday Small Finance Bank IPO The major reason for the IPO launch is the Reserve Bank of India’s stipulation that requires all small finance banks to list on exchanges after three years of getting a banking licence….

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