Page 2 - Suryoday Small Finance Bank

Suryoday Small Finance Bank initial public offer subscribed 42% on day 1

Suryoday Small Finance Bank's initial public offer was subscribed 42 per cent on Wednesday

Suryoday SFB IPO: Lender diversifies but asset quality worrying still

It was a purely microfinance bank in 2018, but dependence on such loans fell to 71 per cent in Q3

Suryoday SFB IPO: Lender diversifies but asset quality worrying still

It was a purely microfinance bank in 2018, but dependence on such loans fell to 71 per cent in Q3

Suryoday SFB fixes IPO price band at Rs 303-305 per equity share

The IPO consists of a fresh issue of Rs 250 crore and an offer for sale (OFS) of up to Rs 350 crore by existing shareholders

We may apply for universal banking licence: Suryoday Small Finance Bank CEO

Suryoday Small Finance Bank (SSFB) has completed a shade more than a decade as an entity in two avatars

MFI sector growth falters and defaults rise with Assam protests, slowdown

Natural calamities, over-lending and liquidity issues with NBFCs add to the sector's woes

You have to be careful when going is good: Suryoday Small Finance Bank CEO

The key takeaway is we must be substantially capitalised at all points of time, says R Bhaskar Babu

Suryoday Small Finance Bank to raise Rs 200 cr through share sale

SSFB, which started its banking operations in 2017, has large presence in three states including Maharashtra

Suryoday Small Finance Bank to raise Rs 2 bn capital from new investors

SSFB, which started its banking operations last year in January 2017, is backed by marquee investors like IFC and HDFC, among others

Suryoday small finance bank to open 90 branches in the country

Navi Mumbai based Suryoday Small Finance Bank plans to open 90 branches in different parts of the country for providing banking services." Out of 90 branches, we have so far opened 19 . By the next financial year we will be completing opening of 90 branches and converting 37 micro finance branches to banking outlets", said Pawan Tandon, Head (Branch Banking) of the Small Finance Bank. Pawan was in the city to inaugurate bank's first branch in Odisha. Incidentlly, Suryodaya is the first small finance bank to start its services in the state.Suryoday Small Finance Bank Limited has commenced its operations as a small finance bank from January 23, 2017. The Reserve Bank had issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.It was one of the 10 applicants which were issued in-principle approval for setting up a small finance bank. In the past ten months, it has set up branches in Mumbai, Pune, ...

Suryoday Small Finance Bank raises Rs 160 crore

Suryoday Small Finance Bank Limited has raised Rs 160 crore in the last one week from existing and new investors, including TVS Capital. The Bank also said it will list the new Bank in the next three years.The fund raising will support company's investment plan in technology and increase its networks. Of this, fund raising of Rs 100 crore was through a rights issue.Suryoday Small Finance Bank managing director and CEO, R Baskar Babu said existing investors including Sarva Capital, HDFC, IFC, IDFC Bank and others have participated in the fund raising.The new investor which came on board today was TVS Capital which invested Rs 60 crore for five per cent stake.Babu added that the Reserve Bank of India (RBI) has given a special approval for a few investors to hold over five per cent in Suryoday Small Finance Bank.The investors include Sarva Capital (which will hold 9.5 per cent), International Finance Corporation (6.8%).Post the issue, while promoter group shareholding will increase to ...

Suryoday rasing Rs 100 crore through rights issue

For savings account deposits up to Rs 1 lakh, the rate of interest would be 6.25%