Suryoday SFB IPO
1. Suryoday Small Finance Bank Limited was incorporated under the Companies Act.
2. Received RBI license for NBFC Operations
3. Partnered with Aavishkaar Goodwell for Private Equity Funding
4. Opened 10 branches across Pune and Solapur in Maharashtra and Chittoor in Andhra Pradesh.
1. Expanded operations across Maharashtra, Andhra Pradesh, Odisha, Tamil Nadu, Karnataka, Gujarat and Rajasthan bringing the network to 70 branches with 274,000 active customers.
2. Received Equity Infusion from Lok Capital, HDFC Holdings, HDFC Life and IFC in addition to Aavishkar Goodwell.
3. Received RBI approval for NBFC-MFI Status.
1. The network expanded to include Madhya Pradesh bringing the total number of branches to 145 with 562,000 active customers.
2. Issued debt securities and obtained listing permission from the BSE Ltd. in the Wholesale Debt segment.
1. Received ‘Scheduled Commercial Bank’ Status
2. Became Member of CGTMSE – Credit Guarantee Fund Trust for Micro & Small Enterprises.
Micro Finance Microfinance loans are for financially excluded borrowers with a ticket size ranging between Rs. 10,000 to Rs. 40,000. These loans are primarily given to women borrowers in the joint liability format. These are templated products which are dependent on the parameterised credit review to ensure appropriate evaluation of the borrower and better health of the portfolio. Microfinance continued to be a significant portfolio for the Bank in FY 18 and will continue to remain for FY 19.
Loan Against Property (LAP) & Housing Loan LAP is divided in M-LAP and LAP. M-LAP ranges from Rs. 1.5 lacs to Rs. 5 lacs and is collateral based lending primarily for business purpose. LAP is in the range of Rs. 10 lacs and upwards. Housing loans are given to salaried as well as credible self-employed borrowers including to financially excluded borrowers
MSME loans MSME loans are provided as unsecured loans to retail borrowers such as shopkeepers and grocers. These are templated products with the ticket sizes in the range of Rs. 1.5 lakhs to 5 lakhs. These are unsecured loans and backed by post-dated cheques. During the year, the Bank introduced a microloan for shopkeepers with a ticket size of approximately Rs. 1 Lakh including customers having a good track record with the Bank and are in the need for the higher loan amount. Accordingly, the Bank has segregated its sourcing strategy based on customer profile. Microloans with a ticket size of Rs. 1 lakh is sourced by inclusive finance cluster while retail asset cluster (non-inclusive finance) will source customers with ticket size upwards of Rs. 5 Lakh. Notably, the Bank has witnessed excellent portfolio quality for microloans with a ticket size of approximately Rs. 1 lakh.
Commercial Vehicle Loans The Bank introduced CV loans in later part of the year and includes primarily new commercial vehicles. The ticket sizes are in the range of Rs. 15 lakhs to Rs. 35 lakhs. The key focus will be to fund credible borrowers and to build a stable portfolio.
Financial Intermediary Group (FIG) Loans FIG loans are introduced for on-lending to NBFCs including microfinance companies. The Bank has separate verticals to focus on FIG lending having significant experience in lending to financial institutions.
SME lending The Bank has started lending to SME borrowers with excellent credit history. SME borrowers are primarily small and medium private and public limited companies, partnership firms etc. The Bank has centralized sourcing, credit underwriting, and loan processing to keep strong control over the sourcing profile of the customer and portfolio monitoring.
Objects of the Suryoday SFB IPO:
Suryoday SFB IPO Details:
|Open Date:||Mar 17 2021|
|Close Date:||Mar 19 2021|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Building|
|Issue Size:||582 Cr.|
|Lot Size:||49 Shares|
|Issue Price:||₹ 303-305 Per Equity Share|
|Listing Date:||Mar 30 2021|
Promoters And Management:
Financials of Suryoday SFB IPO:
|Particulars (In Crores)||FY15||FY16||FY17||FY18||FY19||FY20|
Comparison With Peers:
|Suryoday Small Finance Bank||2.44x|