Suryoday Small Finance Bank is issuing shares - 18.02.2020

As per RBI regulation; The Promoters of the Bank are required to maintain a minimum of 26% of the total paid-up share capital of the Bank at all times. As part of the licensing conditions of RBI, the Bank is required to list its Equity Shares by end of year 2020. In view of the impending increase in the paid-up share capital of the Bank and the corresponding requirement of maintaining 26% at all times by the Promoters, the Promoters are required to bring in additional capital. So, Suryoday Small Finance Bank, has decided to issue, offer and allot on a preferential basis up to 50,00,000 ( Fifty Lakhs) equity shares of Rs. 10/- (Rupees Ten) each for cash at a price of Rs. 180 (Rupees One hundred and Eighty only) per share inclusive of a premium of Rs. 170/- (Rupees One hundred and Seventy only ) per share to the Promoters of the Bank as given hereinbelow. Sr No. Name of the Proposed Allottee Maximum Number of shares proposed to be allotted 1 Mr. Baskar Babu Ramachandran 48,15,000 2 Mr. P S Jagdish 1,00,000 3 Mr. G V Alankara 85,000 Link of the notification