The IPO Committee of the Board of Directors of Suryoday Small Finance Bank (SSFB) at their meeting held on Tuesday finalised allocation of equity shares aggregating ₹170 crore to 13 anchor investors at a price of ₹305 per equity share.
The anchor investors who received more than 10 per cent of the equity shares allocated under the Anchor lnvestor Portion include Axis Small Cap Fund and ICICI Prudential Life Insurance Company (13.24 per cent each); 238 Plan Associates LLC (11.76 per cent); and Aditya Birla Sun Life Small Cap Fund and SBI Life Insurance Company (10.30 per cent each).
The Board finalised the allocation of an aggregate of 55.77 lakh equity shares to the anchor investors in consultation with the Axis Capital, lClCl Securities, llFL Securities and SBl Capital Markets, the Book Running Lead Managers to the Bank’s initial public offer (IPO).
SSFB’s IPO opens for subscription on March 17, 2021 and closes on March 19, 2021. The price band of the Offer has been fixed at ₹303-305 per equity share.