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Suryoday Small Finance Bank issuing shares at Rs.291 in Pre-IPO placement

Suryoday Small Finance Bank which has already filed DRHP for an IPO has raised 151 Crores by issuing 52,08,226 shares to the following shareholders.

1. SBI Life Insurance Company Limited = 30,84,833

2. Axis Multicap Fund = 17,13,795

3. Axis Equity Hybrid Fund = 3,42,760

4. Kiran Vyapar Limited = 66,838

The shares are issued at Rs.291 per share.

Suryoday Small Finance Bank’s Book value as on 31.03.2020 is 123 per share. So, this deal is done at P/B of 2.36x.

Currently, the Suryoday Small Finance Bank is available in the unlisted market at a price of 320 per share.


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