Suryoday Small Finance Bank Pre IPO Review & Analysis

Suryoday Small Finance Bank Pre IPO Review & Analysis

Suryoday Small Finance Bank IPO Review, Allotment Status, Subscription, Price, Date & More.

Let’s have a detailed review of the company and analytics of the Suryoday Small Finance Bank IPO release date, IPO offer price, subscription, Suryoday Small Finance Bank IPO allotment, grey market price and other details like the company’s background, its financial positions, and its other related things.

Summary of Suryoday Small Finance Bank

Suryoday - ‘Sunrise’ in Sanskrit, signifies a new dawn, a new beginning and this encompasses our strong commitment to financial inclusion. In the past, as Suryoday Micro Finance and now as Suryoday Small Finance Bank.

Suryoday journey from Micro Finance to a Small Finance Bank took just eight years. Today over a million ‘smiling customers’ stand testimony to our belief that ‘no matter what, dreams, when enabled will transform mankind and create a whole new world around’.

Suryoday has among the 10 companies and the only one from Maharashtra to obtain a ’Small Finance Bank’ license from the Reserve Bank of India (RBI).

Suryoday Small Finance Bank is a new age bank that went live on January 23rd 2017. Its endeavor is to bring the best banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society. The Bank’s focus is to continue to be on ensuring the best in class ‘Customer Experience’.

As a bank, Suryoday

-         Offers its existing credit products suite of MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and current customers.

-         Offers digital banking as the key account differentiator to customers using the extensive seeding of Aadhar biometric identification system, NPCI’s payment systems and mobile technologies whilst continuing to explore banking through traditional channels.

-         Focuses on the unserved and the underserved through innovative banking practices and continue to expand reach in states where it currently doesn’t has a presence

Promoters of Suryoday Small Finance Bank

Mr. Baskar Babu Ramachandran

-         MD & CEO of Suryoday Small Finance Bank Ltd.

-         Over 20 years of experience with Cholamandalam, HDFC Bank, GE Capital in leadership roles.

Mr. P Surendra Pai

-         Retired in 2002 as a Vice Chairman of Wipro Ltd.

-         Executive Chairman of Murugappa Group till 2006.

-         Independent Director of Federal Bank till 2010.

Mr. P S Jagdish

-         Director Emmjay Financial Ventures Pvt Ltd.

-         Promoter of Indo Tech Transformers Ltd.

-         Former President of Indian Transformer Manufacturers Associations.

Mr. G V Alankara

-         Director & Compliance Officer Old Bridge Capital Management.

-         Ex-Fund Manager Canara Bank Mutual Funds.

-         Ex-Head of Dealing - SSKI Securities Ltd.

Board of directors

Mr. R. Ramachandran

-         Currently Independent Director with the Gati group.

-         Ex-Chairman & Managing Director - Andhra Bank.

-         Ex-Executive Director - Syndicate Bank.

Mr. Mrutyunjay Sahoo

-         Independent Director

-         Ex-Special Chief Secretary to the Government of Andhra Pradesh.

-         Ex-Director as government nominee in Navratna and Miniratna PSUs.

Mr. Jyotin Mehta

-         Independent Director

-         Ex-GM and Company Secretary of ICICI Bank Ltd.

-         Ex- Chief Internal Auditor of Voltas Ltd. Currently Director with ICICI Prudential Trust, Monnet Ispat & Energy and some companies of the ASK group.

Ms. Meena Hemchandra

-         Independent Director

-         Retired Executive Director of Reserve Bank of India having over 35 years of experience spread over various departments. Has been CGM-in-charge of the Mumbai Region of the Department of Supervision, RBI , has chaired the ‘Standing Committee on Cyber Security in Banks’ and overseen the issue of cyber security guidelines from the RBI. An MA (Economics), CAIIB and CFA by qualification, she has academic and Board- level experience having been on the Board of several Bank Boards.

Mr. Arun Diaz

-         Independent Director

-         Post 28 years of world-wide assignments with Standard Chartered Bank, he is now a Consultant in Banking and an entrepreneur in the healthcare sector involved in Venture Capital. An MBA from XLRI, he mentors new and upcoming entrepreneurs.

Mr. Ranjt Shah

-         Nominee Director

-         Over 36 years of varied experience, including thirteen years as a private equity investor.

-         Managing Partner and Co-Founder of Gaja Capital leading investments in the consumer, financial services and infrastructure ancillary sectors.

Mr. Aleem Remtula

-         Nominee Director

-         Has over 15 years of experience in impact investing with socially-responsible, venture capital and private equity funds in the U.S. and Europe and is a Economics graduate from Princeton University and also an MBA from Harvard Business School. He is currently Managing Director at Developing World Markets, a U.S.-based impact investment manager and manages the firm’s private equity investments across Asia, the Caucasus, and East and South Africa. Aleem also serves on the board of the Aga Khan Foundation, USA and consults on financial access strategies and products for the poor and ultra-poor across multiple countries.

Mr. Baskar Babu Ramachandran

-         MD & CEO

-         MD & CEO of Suryoday Small Finance Bank Ltd.

-         Over 20 years of experience with Cholamandalam, HDFC Bank, GE Capital in leadership roles.

Key Institutional Investors:

-         HDFC

-         HDFC Life

-         IDFC First Bank

-         Kotak Life

Industry Overview:

-         The Indian Banking structure has undergone appropriate transformation with the formation of a new banking institution – Small Finance Banks (SFBs).

-         These SFBs are expected to penetrate Rural India and help achieve financial inclusion by providing basic Banking and Credit services to a larger population.

-         SFBs also work as institutionalized systems to undertake deposits, which enables them to access low-cost funds as compared to NBFCs.

-         The loan portfolio of SFBs is expected to grow at 25-30% with share of microfinance declining to around 40% by March 2020, according to a report by rating agency ICRA.

Suryoday Small Finance Bank IPO Allotment Status, Subscription, Price, Date & More.

Suryoday Small Finance Bank IPO date has not been released yet. Once the IPO date has been issued, the subscription details will be updated regularly. The Allotment status will be announced about 3-4 weeks of the IPO issue date. The price band of the IPO will be known only after the offer price of the IPO issues is known. One can know about the price band of the IPO in about a week.

Planify View Over Suryoday Small Finance Bank:

-         We at Planify believe, after considering the bank’s financials and capital structure, that the bank is going to be a safe bet and it could grow exponentially in the coming years. After analyzing all the aspects we would give the bank a rating of 4 out of 5.

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