Suryoday Small Finance Bank will finalise the basis of allotment of the IPO on Wednesday, March 24, 2021. The Rs 582-crore public issue was subscribed 2.37 times.
The grey market premium in Suryoday Small Finance Bank has vanished and shares were trading at a discount of Rs 4 over the IPO price
Suryoday Small Finance Bank will finalise the basis of allotment of the IPO on Wednesday, March 24, 2021. The Rs 582-crore public issue was subscribed 2.37 times. The price range for the offer was Rs 303-305 per share. According to the Suryoday Small Finance Bank’s prospectus, the initiation of refunds or unblocking of funds from ASBA accounts will take place on March 24, and the credit of equity shares to the depository accounts of allottees will happen on March 25. Suryoday Small Finance Bank will make its stock market debut on March 30, 2021. The grey market premium in Suryoday Small Finance Bank has vanished and shares were trading at a discount of Rs 4 over the IPO price.
Suryoday Small Finance Bank issue received bids for 3.20 crore shares against 1.35 crore shares on offer. The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.18 times, non-institutional investors 1.31 times and retail individual investors (RIIs) 3.09 times. Suryoday SFB has over 20 institutional investors, including development funds and private equity investors. The Reserve Bank of India gave Suryoday the licence to function as a small finance bank in 2017. The small finance bank in consultation with merchant bankers will finalise the share allocation on Wednesday.
How to check Suryoday Small Finance Bank share allotment status via KFin Tech Private Ltd website
Investors can check the allotment status on KFin Technologies website under the IPO Status section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that, select the IPO and enter either your application number or DPID/Client ID or PAN. In the case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit. This will show the number of shares that have been applied and allotted to the investor.
Check Suryoday Small Finance Bank share allotment status via BSE website
The allotment status in Suryoday Small Finance Bank can also be checked via the BSE website (https://www.bseindia.com/investors/appli_check.aspx). From this link, select the issue type as ‘equity’, and ‘Suryoday Small Finance Bank’ as the issue type from the drop-down list, when it gets declared. Enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.