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Four months after giving an in-principle nod to <keyword id="6010758" type="General" weightage="20" keywordseo="centrum-financial" source="Orion">Centrum Financial</keyword> Services and <keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword> to establish a <keyword id="6382595" type="General" weightage="20" keywordseo="small-finance-bANK" source="Orion">small finance bank</keyword>, the <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> on Tuesday granted a licence to the consortium that had expressed interest to take over the crisis-impacted Punjab and Maharashtra Cooperative (PMC) Bank. In June, the Reserve Bank had given the in-principle approval for the SFB licence to the consortium against its interest to take over the PMC Bank, a city-based cooperative lender under restrictions for more than two years after a massive over Rs 7,000-crore fraud at the lender. In a joint statement, <keyword id="59288" type="General" weightage="20" keywordseo="centrum" source="Orion">Centrum</keyword> and BharatPe, which are uniting equally to build the SFB, said the RBI's final approval has been received earlier in the day, and this is the first time in six years that the central bank has given a banking licence. Earlier in the day, BharatPe announced that former SBI veteran Rajnish Kumar is joining its board as the chairman and will be playing the role of a mentor for the fintech's team on the path to forming an SFB. The new SFB has been incorporated as "Unity Small Finance Bank" and the business model is "one of collaboration and open architecture", uniting all its stakeholders to deliver a seamless digital experience, the statement said. However, details about how the amalgamation with Punjab and Maharashtra Cooperative (PMC) Bank will happen from an operational perspective were not known immediately. The statement said Centrum's MSME and microfinance businesses shall be merged into Unity Small Finance Bank. "We are delighted to receive the licence and excited to partner with BharatPe to create this new age bank, with a strong team. We aspire to be India's first Digital Bank," Centrum Group's chairman Jaspal Bindra said. "We will work tirelessly and smartly to capture this opportunity and build India's first truly Digital Bank ground up," Ashneer Grover, the co-Founder and managing director of BharatPe, said. While granting the in-principle nod on June 18, the RBI had said that the approval has been accorded in specific pursuance to the Centrum Financial Services' February 1 offer expressing interest to take over PMC Bank. SEE ALSO <a href="https://www.businessinsider.in/india/news/the-depth-of-indias-power-crisis-22-power-plants-shut-govt-says-coal-crisis-overblown/articleshow/86969860.cms" data-type="tilCustomLink">The depth of India's power crisis</a> <a href="https://www.businessinsider.in/stock-market/news/from-home-sales-and-jewellery-to-power-consumption-these-sectors-are-back-to-pre-pandemic-levels/articleshow/86976154.cms" data-type="tilCustomLink">From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels</a> <a href="https://www.businessinsider.in/careers/news/if-you-have-these-digital-skills-then-you-can-expect-a-double-digit-salary-hike-next-year/articleshow/86970342.cms" data-type="tilCustomLink">If you have these digital skills, then you can expect a double digit salary hike next year</a>

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

With the promoters of two <keyword id="100080" type="General" weightage="20" keywordseo="housing-finance" source="Orion">housing finance</keyword> companies exiting the business, is there a shake out happening in the sector? The two exits -- small and the big ones -- were announced in quick succession. The Pune-based <keyword id="25607" type="General" weightage="80" keywordseo="poonawalla" source="Orion">Poonawalla</keyword> Fincorp Ltd announced the proposed sale of its stakes in the housing finance subsidiary Poonawalla Housing Finance Limited (formerly Magma Housing Finance Limited) to Perseus SG Pte. Ltd affiliated to TPG Global LLC for Rs 3,900 crore. A couple of days earlier, <keyword id="59288" type="General" weightage="80" keywordseo="centrum" source="Orion">Centrum</keyword> Housing Finance Ltd announced the binding agreement to acquire the housing finance business of <keyword id="15799445" type="General" weightage="80" keywordseo="national-trust-housing" source="Orion">National Trust Housing</keyword> Finance Limited for an undisclosed price. An affordable housing finance company National Trust Housing has a loan book size of over Rs.300 crore and is present in 17 locations in four southern states. As per the agreement, Centrum Housing will acquire the housing finance business including the loan portfolio, branches and employees. However, industry players and experts told IANS that the two exists doesn't mean a shake out or consolidation happening in the housing finance sector but shows the potential and interests of players. If a private equity major like TPG is investing in the housing finance sector, it shows the growth potential, industry experts told IANS. In February 2020, a fund managed by Morgan Stanley PE Asia, invested approximately Rs 190 crore to acquire a minority stake in Centrum Housing Finance. On the exit of Poonawalla Fincorp, Sanjay Agarwal, Senior Director, CARE Ratings told IANS: "They probably want to focus on consumer finance. Housing finance is a long term business and different from consumer finance." According to Agarwal, the sale and purchase of two housing finance companies shows a lot of interest in the market and is positive for the sellers and buyers. He said the credit loss for housing finance companies is very low but needs lots of capital. "The timing of the sale by Poonawalla is good as the market is picking up. I will not say consolidation is happening in the sector," a top official of a housing finance company told IANS on the condition of anonymity. As regards to the Centrum group's acquisition of National Trust Housing, an industry official told IANS: "The buy gives Centrum a jump start in the Southern market. It would have taken them about two years to establish a similar presence." The acquisition of National Trust Housing consolidates Centrum Housing presence in South India, and will help to further increase the penetration across the chosen geographies, Jaspal Bindra, Executive Chairman, Centrum Group said. "The market is growing and the pie is large enough for all to grow. There are opportunities for all the players -- big and small. This is driven by the need for housing and the Government's thrust on Housing for All. There is a fair degree of growth potential in the next few years," Lakshminarayanan Duraiswamy, Managing Director, <keyword id="680422" type="General" weightage="80" keywordseo="sundaram-home-finance" source="Orion">Sundaram Home Finance</keyword> Ltd told IANS. Big banks and housing finance companies are coming into small towns and this in turn makes smaller players like us to explore opportunities in Tier 3 and 4 towns, Duraiswamy added. "We registered disbursements of Rs 2,350 crore last year. In the first half of this year the disbursement figure is close to Rs 1,800 crore. Our target is to grow this year by 40 per cent-50 per cent and are on track to achieve this target driven by growth from Tier 2 and 3 markets. The smaller towns are growing faster for us and the self-employed segment is growing faster than the salaried class," he said. The housing finance companies like Sundaram Home Finance, Aptus Value Housing Finance India Ltd have also diversified their business by getting into financing small businesses which gives them higher spread. Typically, housing finance companies follow a monoline business model with focus on home loans and loan against property (LAP), Duraiswamy said. Sundaram Home Finance's entry into small business loans against mortgage of residential property is a diversification to a new segment of borrowers and an entry into Tier 3 and 4 towns, Duraiswamy said. According to him, by the end of this year, the small business loan book will be about Rs 15 crore and by the end next fiscal it will be about Rs 150 crore. "In the long term, we hope to take the contribution from this segment to about 10 per cent of our overall disbursements," Duraiswamy said. Sundaram Home Finance is also planning to expand its distribution network for home loans by opening around 15 new branches in Tier 2 and 3 towns in Tamil Nadu, Karnataka and Andhra Pradesh by March 2023. Be that as it may, although the banks continued to dominate and accounted for 63 per cent of the overall housing finance portfolio, housing finance companies outshone in FY22, said CARE Ratings in a research report. After reporting modest growth for two consecutive years, housing finance companies reported a double-digit growth rate in FY22 at 11 per cent y-o-y, surpassing the 7 per cent growth rate reported by the banks, CARE Ratings said. "Consequently, the share of HFCs, which has been contracting for th e past two consecutive years, improved in FY22 from 36 per cent to 37 per cent. Improvement in the macroeconomic environment, low-interest rate regime, and initial signs of recovery witnessed in the real estate sector were the key catalysts for the high growth," CARE Ratings report notes. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-to-outpace-world-average-growth-in-2023-can-it-duck-global-headwinds/articleshow/96256621.cms">Indian economy to outpace world average growth in 2023 – Can it duck global headwinds?</a> <a href="https://www.businessinsider.in/business/startups/news/how-many-startups-turned-unicorns-in-2022-in-india-check-out-the-list/articleshow/96248261.cms">New Indian unicorns get rarer in 2022 as funding winter sets in</a>

Two promoter exits - shakeout in housing finance sector?

<ul><li>The <keyword id="10113039" type="UNKNOWN" weightage="20" keywordseo="Equitas-Small-Finance-Bank-shares">Equitas Small Finance Bank shares</keyword> listed at ₹31, which is at a 6% discount to the IPO price band set at ₹32-33 per share. </li><li>The total market cap of ESFB rose to ₹3,443.21 crore at 10:05 am.</li><li>Within minutes after listing, the shares of Equitas Small Finance Bank shed nearly 3% of their value and were trading at ₹30.15 apiece at 10:05 am, in a volatile market. </li></ul>It was a subdued listing for the ₹518 crore IPO of the mass-market focused Equitas Small Finance Bank (ESFB) on the bourses today. The Equitas Small Finance Bank shares, listed at ₹31, which is at a 6% discount to the IPO price band set at ₹32-33 per share. Within minutes after listing, the shares of Equitas Small Finance Bank shed nearly 3% of their value and were trading at ₹30.15 apiece at 10:05 am, in a volatile market. <div type="image" title="Equitas Small Finance Bank" msid="78992340" hostid="261"></div> The total market cap of ESFB rose to ₹3,443.21 crore at 10:05 am. A total traded quantity of 4.48 lakh shares changed hands on BSE, amounting to a turnover of ₹1.38 crore. The company will trade with the symbol of 'EQUITASBNK' on the Indian stock exchanges. Tepid listing was already on the cards The investor pessimism for ₹518 crore IPO of Equitas Small Finance Bank was evident ahead of the listing — the company clocked in the lowest subscriptions compared to other IPOs in 2020 so far. The IPO was subscribed 2 times on the last day of bidding, and the non-institutional Investor portion of the IPO wasn't even fully subscribed. Most of the brokerage reports highlighted various risk factors According to ICICI Direct, for Equitas Small Finance Bank, new products and entry in new geography pose a risk of non-performing assets. Currently, the company has a 55% concentration of loan portfolio in Tamil Nadu and nearly 13% in Maharashtra. Angel Broking also said in its IPO note that the fresh formation of bad loans from moratorium books would keep provisions high and return ratios compressed, and could pose a concern for Equitas SFB. "We believe investors should wait for price discovery before making any investment decision," they added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/hero-motocorp-shares-gain-after-it-logs-highest-ever-sales-in-october/articleshow/78992126.cms" data-type="tilCustomLink">Hero Motocorp shares gain after it logs ‘highest-ever’ sales in October</a> <a href="https://www.businessinsider.in/business/news/former-hdfc-bank-ceo-aditya-puri-joins-carlyle-group-as-senior-advisor/articleshow/78991270.cms" data-type="tilCustomLink">Former HDFC Bank CEO Aditya Puri joins Carlyle Group — will advise the global investment firm on Asia bets</a>

Tepid debut for Equitas Small Finance Bank — lists at a 6% discount over the issue price

<ul><li>Shares of <keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> listed on the stock exchanges at ₹292 per share, which is over 4% less than the issue price. </li><li>The company’s initial public offer (IPO) was oversubscribed by 2.37 times. </li><li>It intends to use proceeds of the IPO towards bolstering its Tier-1 capital -- essentially boosting its financial strength and meeting its future capital requirements. </li></ul>Shares of Suryoday Small Finance Bank debuted at ₹292 per share, which is over 4% lower than its issue price of ₹305. At 10:05 am, the share price of Suryoday Small Finance Bank was hovering around ₹283, down by 7% over the issue price. The ‘new-age’ small finance bank floated its ₹581 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 2.37 times, with retail investors leading the fray. Suryoday Small Finance Bank (SSFB) plans to boost its Tier-1 capital from the proceeds of the IPO. This, it says, will be used for meeting future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. The grey market premium for SSFB’s shares was hovering in the negative, meaning the grey market expected the bank’s shares to list lower than the issue price. It is worth noting that grey market premium is not an official measure of market premium. SSFB commenced its microfinance operations in 2009. It received the small finance bank (SFB) licence from the Reserve Bank of India (RBI) in 2016. Prior to getting approval to operate as a small finance bank from the Reserve Bank of India, SSFB operated as a non-banking finance corporation and offered small ticket-size loans to women from weaker sections of the society. SSFB serves customers in the unbanked and underbanked categories. It has been serving these segments for over a decade now. “Suryoday Small Finance Bank is among the leading 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,” a report by Axis Capital said. Explaining the extent of SSFB’s operations, a HDFC Securities reported states, “As of December 31, 2020, SSFBL’s customer base was 1.44 million and its employee base comprised 4,770 employees and it operated 554 Banking Outlets including 153 Unbanked Rural Centres.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-suryoday-small-finance-bank-ipo-online/articleshow/81647204.cms">Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Suryoday Small Finance Bank shareholders lost 7% of their investment within minutes of listing

<ul><li>The basis of allotment for the ₹581 crore IPO of <keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> will be announced on March 24. </li><li>Suryoday Small Finance Bank is one of the leading small finance banks in terms of net interest margins, return on assets and yield. </li><li>Here’s how to check the <keyword id="10978509" type="UNKNOWN" weightage="20" keywordseo="suryoday-small-finance-bank-ipo-allotment">Suryoday Small Finance Bank IPO allotment</keyword> status. </li></ul>Suryoday Small Finance Bank is one of the latest to join the initial public offer (IPO) frenzy, allowing investors to subscribe to ₹581 crore worth equity shares. Although analysts recommended subscribing to the IPO, it received lukewarm reception, garnering a meagre 2.37 times subscription – mostly led by retail investors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Suryoday Small Finance Bank IPO </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.31 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3.09 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.34 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.37 </td></tr></tbody></table> “Suryoday Small Finance Bank (SSFB) is among the leading 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,” a report by Axis Capital said. One of the measures to evaluate SSFB’s performance is yield-to-gross loan portfolio. This measures the bank’s ability to generate income such as interest, fees, and commissions from the loans it has issued. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yield on Gross Loan Portfolio </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.41% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">20.93% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dec-20* </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.76% </td></tr></tbody></table> Note: *Data up to December 31, 2020. “SSFB has been growing tremendously since the conversion as an SFB and is currently in a robust financial position that will enable them to expand their business quickly,” stated a report by Anand Rathi Research. The bank has announced that it will use the proceeds of the IPO towards bolstering its Tier-1 capital base to meet future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. When will the Suryoday Small Finance Bank shares be listed? The listing date for the allotted shares of Suryoday Small Finance Bank is March 30. How to check <keyword id="10539050" type="UNKNOWN" weightage="20" keywordseo="Suryoday-Small-Finance-Bank-ipo">Suryoday Small Finance Bank IPO</keyword> allotment status If you were one of the subscribers to the Suryoday Small Finance Bank IPO, you can check the allotment status by following these steps: To check the Suryoday Small Finance Bank IPO allotment status on the registrar website: <ul><li>Visit the registrar’s website <a href="https://kcas.kfintech.com/ipostatus/">here</a>. </li><li>Click on ‘Select IPO’ and then select ‘Suryoday Small Finance Bank’. </li><li>Now, enter either your PAN, application number or DP / Client ID. </li><li>Now, enter the captcha. </li><li>Click on submit. </li></ul>Now, you will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. To check on BSE website: To check Suryoday Small Finance Bank IPO allotment status on BSE or NSE website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a>.</li></ul><ul><li>On the website, click on 'Equity' and then from the dropdown, select ‘Suryoday Small Finance Bank’. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li><li>You will be able to see the number of shares allotted to you. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-craftsman-automation-ipo-allotment-status/articleshow/81625011.cms">Craftsman Automation IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-oneplus-9-and-oneplus-watch-to-launch-in-india-today-how-to-watch-live-stream-price-features-and-more/articleshow/81644503.cms">OnePlus 9 Pro, OnePlus 9 and OnePlus Watch to launch in India today – How to watch live stream, price, features and more</a>

Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more

Mumbai, Apr 17 () Non-bank financial players have welcomed the Reserve Bank of India's decision to provide Rs 50,000 crore of additional liquidity support to the sector by conducting targeted long term repo operations (TLTRO 2.0). Shadow banking players also hope to get more liquidity support from banks after the RBI reduced the reverse repo rate by 25 basis points to 3.75 per cent from 4 per cent. The RBI on Friday said it will conduct (TLTRO 2.0) for an aggregate amount of Rs 50,000 crore, to begin with, in tranches of appropriate sizes.The funds availed by banks under TLTRO 2.0 should be invested in investment grade bonds, commercial paper, and non-convertible debentures of NBFCs, with at least 50 per cent of the total amount availed going to small and mid-sized non-banking financial companies (NBFCs) and micro-finance institutions (MFIs)."It (TLTRO) is a very-very favourable decision. Now, they (RBI) have specifically allotted (liquidity through TLTRO) to NBFCs, of which 50 per cent will be for small and medium NBFCs. It is a great liquidity support from the RBI," Mahindra and Mahindra Financial vice chairman and managing director Ramesh Iyer told . MFIN's CEO Harsh Shrivastava said the microfinance sector is highly appreciative of RBI for acknowledging the industry concerns and for infusing liquidity of Rs 50,000 crore, a substantial part of which will help the small and medium NBFC MFI's to support the bottom of the pyramid customers.In order to encourage banks to deploy their surplus funds in investments and loans in productive sectors of the economy, the RBI reduced the reverse repo rate to 3.75 per cent. Shriram Transport's managing director and CEO Umesh Revankar, said the decision to cut the reverse repo rate by 25 bps will encourage banks to look for lending opportunities. "We would appreciate it if banks reciprocate positively to NBFCs request on moratorium to manage cash flow smoothly," Revankar said.The RBI, on March 27, had permitted all lending institutions (LIs) to grant a moratorium of three months on payment of current dues falling between March 1 and May 31, 2020.On Friday, the RBI said in respect of all accounts for which lending institutions decide to grant moratorium or deferment, and which were standard as on March 1, 2020, the 90-day NPA norm shall exclude the moratorium period,"There would be an asset classification standstill for all such accounts from March 1, 2020 to May 31, 2020," it said.It also allowed NBFC players to extend the date for commencement for commercial operations (DCCO) for loans given commercial real estate by additional one year without considering it as restructuring."The 90 day NPA norm won't be applicable to loans where the moratorium is granted. This along with a one year extension on loans given to the real estate sector will help preserve asset quality," Centrum Group executive chairman Jaspal Bindra said. The central bank announced to provide special refinance facilities for a total amount of Rs 50,000 crore to Nabard, Sidbi and NHB to enable them to meet sectoral credit needs."The special refinance facilities of Rs. 50,000 crore to NHB, Sidbi and Nabard will help meet credit needs of MSME sector and housing finance which has been severely affected by Covid-19," Capri Global Capital's managing director, Rajesh Sharma said. Edelweiss Group chairman and CEO Rashesh Shah said RBI has shown its commitment to go the extra mile and more stimulus measures will help in reviving the financial sector. Tourism Finance Corporation of India (TFCI) managing director and CEO Anirban Chakraborty said the RBI's announcement brings much needed relief to the sectors with an eye on the developing situation at the ground level. HV MKJ

NBFCs hail RBI's additional liquidity support move to tide through Covid crisis

<ul><li>The basis of allotment for ₹518 crore initial public offering of Equitas Small Finance Bank will be announced on October 27, and listing is scheduled for November 2. </li><li>The Equitas, Small Finance Bank issue, was subscribed only 2 times on the last day of bidding.</li><li>Here’s how to check <keyword id="10158251" type="UNKNOWN" weightage="20" keywordseo="Equitas-Small-Finance-Bank-IPO-allotment">Equitas Small Finance Bank IPO allotment</keyword> status on registrar website and on stock-exchanges. </li></ul>The ₹518 crore IPO of mass-market focused Equitas Small Finance Bank (<keyword id="10158253" type="UNKNOWN" weightage="20" keywordseo="ESFB">ESFB</keyword>) received a tepid response from investors. The Equitas, Small Finance Bank issue, was subscribed only 2 times on the last day of bidding. According to the stock-exchange data, the issue received bids for 22.57 crore equity shares against the offered size of 11.58 crore equity shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Equitas Small Finance Bank IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer size </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27,975,001 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,487,500 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50,137,500 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">312,500 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,937,500 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">115,850,001 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.91x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.22x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.84x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.42x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.95x </td></tr></tbody></table> The basis of allotment for ₹518 crore initial public offering of Equitas Small Finance Bank will be announced on October 27, and listing is scheduled for November 2. <div type="Article" hostid="261" msid="78764498" title="Equitas Small Finance Bank ₹518 crore IPO opens for subscription — Here’s what brokerages have to say" mstype="2" mssubtype="0"></div> Here’s how to check Equitas Small Finance Bank IPO allotment status: If you have bid for the Equitas Small Finance Bank IPO, you can check your allotment status by following these simple steps. To check on the stock-exchange website: <ul><li>To check the Equitas Small Finance Bank IPO allotment status, go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE website</a> or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a>.</li><li>On BSE, Select ‘Equity’ and then from the dropdown, select ‘Equitas Small Finance Bank.’ </li><li>Now, enter your application number and PAN.</li><li>Hit ‘Search’.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the Registrar website (KFintech Private Limited) to check your application status. <ul><li>Since KFintech Private Limited is the registrar for Equitas Small Finance Bank IPO, you can visit their website <a href="https://bigshareonline.com//BSSIPOApplicationStatus.aspx">here</a>.</li><li>Click on ‘Company selection’ and click on ‘Equitas Small Finance Bank -IPO.’ It will only appear post allotment on October 27.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.</li><li>Enter the captcha and click ‘submit.’ </li></ul>Your application status will appear on the screen once you click ‘submit.’ Please make sure the details you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Equitas Small Finance Bank IPO allotment: Here’s how to check share allotment status

<ul><li><keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> initial public offer (IPO) worth ₹581 crore has gone live today, and it will be open for subscription till March 19.</li><li>The price band is fixed at ₹303-305, and each lot consists of 49 equity shares.</li><li>Analysts are bullish on the bank, pointing to its strong credit processes, strong financial performance and cost-efficient operations.</li><li>The bank has proposed to use the proceeds of the IPO towards boosting its Tier-1 capital base to meet future capital requirements.</li></ul>Suryoday Small Finance Bank (SSFB) has kicked off its initial public offer (IPO) worth ₹581 crore today, March 17. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others that went public this year. The <keyword id="10539050" type="UNKNOWN" weightage="20" keywordseo="Suryoday-Small-Finance-Bank-ipo">Suryoday Small Finance Bank IPO</keyword> is now open and will be live till March 19, with a price band of ₹303-305. Each lot consists of 49 shares. A total of 1.9 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for boosting the bank’s Tier-1 capital base to meet future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. Analysts are mostly bullish on the IPO. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/analyst </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">LKP Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe at own risk </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Shares and Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> “Suryoday Small Finance Bank is among the leading 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,” a report by Axis Capital said. One of the measures to evaluate SSFB’s performance is yield to gross loan portfolio. This measures the bank’s ability to generate income such as interest, fees, and commissions from the loans it has issued. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yield on Gross Loan Portfolio </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.41% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">20.93% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dec-20* </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.76% </td></tr></tbody></table> Source: Axis Capital Note: *Data up to December 31, 2020. “SSFB has been growing tremendously since the conversion as an SFB and is currently in a robust financial position that will enable them to expand their business quickly,” stated a report by Anand Rathi Research. <cmsannotation type="cmsannotation" annotationid="What is the business of Suryoday Small Finance Bank?" comment="subhead" text="What is the business of Suryoday Small Finance Bank?">What is the business of Suryoday Small Finance Bank?</cmsannotation> SSFB currently provides a wide range of products and services, including housing loans, commercial vehicle loans, micro business loans, unsecured micro and small enterprise loans, among others. Explaining the extent of SSFB’s operations, a HDFC Securities reported states, “As of December 31, 2020, SSFBL’s customer base was 1.44 million and its employee base comprised 4,770 employees and it operated 554 Banking Outlets including 153 Unbanked Rural Centres.” SSFB commenced its microfinance operations in 2009. It received the small finance bank (SFB) licence from the Reserve Bank of India (RBI) in 2016. Prior to getting approval to operate as a small finance bank from the Reserve Bank of India, SSFB operated as a non-banking finance corporation and offered small ticket-size loans to women from weaker sections of the society. SSFB serves customers in the unbanked and underbanked categories. It has been serving these segments for over a decade now. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/laxmi-organic-kicks-off-its-600-crore-ipo-should-you-subscribe/articleshow/81509655.cms">Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a>

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