Suryoday Small Finance Bank IPO
Suryoday Small Finance Bank Limited (SURYODAY) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 March 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +1.9% (likely range -18% to +21%), day's high +10.9%, chance of a gain 50%. Actual: -4.3% at the open, -2.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 37,18,614 | 81,23,661 | 2.18x | |
| NII (HNI) total | 27,88,961 | 36,59,320 | 1.31x | |
| Retail | 65,07,575 | 2,01,14,647 | 3.09x | |
| Employees | 5,00,000 | 1,67,678 | 0.34x | |
| Shareholders | — | 1,176 | 0.00x | |
| Total | 1,35,15,150 | 3,20,66,482 | 2.37x |
Bids on NSE and BSE together, as published by NSE, as of 19 Mar 2021, 05:00 PM. Shares offered exclude the anchor portion. 50% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Suryoday Small Finance Bank's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Rail Vikas NigamApr 2019 | 1.36x | 0.80x | 2.93x | 1.83x | ₹842 Cr | 0.0% | +4.2% |
| Precision CamshaftsJan 2016 | 2.62x | 0.73x | 2.01x | 1.91x | ₹424 Cr | -11.3% | -0.5% |
| Tejas NetworksJun 2017 | 2.16x | 0.48x | 3.10x | 1.88x | ₹803 Cr | 0.0% | +5.6% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| Khadim IndiaNov 2017 | 2.44x | 0.18x | 2.33x | 1.90x | ₹544 Cr | -2.7% | -1.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Securities | 94 | +19.3% | 71% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the Suryoday Small Finance Bank IPO price band and lot size? ₹303–305 per share, with a lot of 49 shares, so the smallest retail bid is ₹14,945.
How many times has it been subscribed? 2.37x overall: QIB 2.18x, NII 1.31x, retail 3.09x, employees 0.34x.
How did it list? It opened at ₹292, -4.3% against the issue price of ₹305, and closed its first day -8.9%.
