Sooner than IPO, Suryoday Runt Finance Bank raises Rs 170 crore from anchor investors

Goldman Sachs (Singapore), Built-in Core Ideas Asia, India Max Funding Fund, Aditya Birla Solar Lifestyles Insurance coverage, ICICI Lombard and SBI Lifestyles Insurance coverage are some of the anchor investors.

March 16, 2021 / 09: 22 PM IST

Suryoday Runt Finance Bank on March 16 garnered Rs 170.12 crore from 13 anchor investors, earlier than its preliminary public provide that opens on March 17. The firm plans to raise spherical Rs 581 crore from the mission.

The firm, in consultation with provider provider bankers, finalised the allocation of 55,77,920 equity shares to anchor investors, at a ticket of Rs 305 apiece, the firm said in its BSE submitting.

Anchor investors who participated within the provide had been Goldman Sachs (Singapore), Built-in Core Ideas Asia, India Max Funding Fund, Aditya Birla Solar Lifestyles Insurance coverage, ICICI Lombard, SBI Lifestyles Insurance coverage, ICICI Prudential Lifestyles Insurance coverage, Axis MF, IDFC MF and Ashoka India Alternatives Fund.

The IPO will finish on March 19. The associated fee band of the provide has been fastened at Rs 303 - Rs 305 per allotment.

Also learnSuryoday Runt Finance Bank IPO opens the next day: 10 key issues to know

The provide comprises a new mission of 81.50 lakh equity shares and an provide for sale (OFS) of 1.09 crore equity shares by existing selling shareholders together with HDFC Holdings, Gaja Capital, IDFC First Bank, Kotak Mahindra Lifestyles Insurance coverage and World Finance Corporation.

The shrimp finance bank is going to exhaust the accumulate proceeds from new mission for augmenting its Tier – 1 capital uncouth to meet future capital requirements.

Axis Capital, ICICI Securities, IIFL Securities and SBI Capital Markets are the e book working lead managers to the mission.

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