Suryoday Small Finance Bank has debuted at Rs 293.00 on the BSE, down by 12 points or 3.93% from its issue price of Rs 305.
The scrip is currently trading at Rs 279.10, down by 25.90 points or 8.49% from its issue price. It has touched a high and low of Rs 295.95 and Rs 275.60 respectively. So far 2.80 lakh shares were traded on the counter.
The offering, which was open for subscription between March 17, 2021 and March 19, 2021, was subscribed 2.37 times. The issue price was fixed at Rs 305 per share i.e. at upper end of price band of Rs 303-305 apiece.
The bank was among the leading Small Finance Banks (SFBs) in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in Fiscal 2020. It has for over a decade been serving customers in the unbanked and underbanked segments in India and promoting financial inclusion.
