You are here: Home » Current Affairs » Coronavirus » News
Nagpur sees single-day spike of 3,370 new Covid-19 cases
PM meet: Gujarat will double vaccination to 300,000 per day, says CM
Business Standard

Suryoday Small Finance Bank initial public offer subscribed 42% on day 1

Suryoday Small Finance Bank's initial public offer was subscribed 42 per cent on Wednesday

Topics
Suryoday Small Finance Bank | initial public offering (IPO) | Banking sector

Press Trust of India  |  New Delhi 



IPO, shares, company, firms, market
Representational image

Suryoday Small Finance Bank's initial public offer was subscribed 42 per cent on Wednesday, the first day of subscription.

The Rs 582-crore initial public offer (IPO) received bids for 56,32,648 shares against 1,35,15,150 shares on offer, according to NSE data.

The category meant for non institutional investors was subscribed 4 per cent and those for retail individual investors (RIIs) 84 per cent.

The initial public offer of 19,093,070 equity shares comprises a fresh issue of up to 8,150,000 equity shares and an offer for sale of up to 10,943,070 equity shares.

The offer is in a price range of Rs 303-305 per share.

on Tuesday raised a little over Rs 170 crore from anchor investors.

The bank has proposed to utilise the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements.

The small finance bank has over 20 institutional investors with a mix of institutional investors, development funds, and private equity investors.

Axis Capital, ICICI Securities, IIFL Securities and SBI Capital Markets are the managers to the offer.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Wed, March 17 2021. 19:48 IST

RECOMMENDED FOR YOU