How To Apply For Suryoday Small Finance Bank IPO

Whenever any IPO is announced, one question is among the most asked or searched over the internet. In the case of this IPO, it will be – How to apply Suryoday Small Finance Bank IPO?

But before we start learning about the process of application, we need to learn about the company bringing the IPO into the share market.

Suryoday Small Finance Bank Limited is a microfinance bank based out of Chennai, Tamil Nadu, and is now registered in Mumbai, Maharashtra.

Some important dates of the IPO are that it is opening on 17th March 2021 and will be closing on 19th March 2021.

The issue size for this IPO is ₹582 Cr.

With the necessary information about the IPO given to you, let’s jump to discussing how to apply for Suryoday Small Finance Bank IPO.

Here, you must know that the first prerequisite, while you apply for an IPO, is to have an active demat account.

You can apply for an IPO using multiple methods, and they have been listed below –

▶️ ASBA (Application Supported by Blocked Amount) Method

▶️ UPI (Unified Payment Interface) Method

So, let’s discuss all of them in detail.

How To Apply For Suryoday Small Finance Bank IPO Online?

Every aspect of our lives has been digitalized today and the application process for IPO is no exception. So, if you wish to apply for Suryoday Small Finance Bank IPO online, you have various methods to apply, like UPI and ASBA.

Let us discuss both of these methods in the upcoming sections.

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How To Apply For Suryoday Small Finance Bank IPO Using ASBA?

The most commonly used method of applying for an IPO is through ASBA. It stands for Application Supported by Blocked Amount. It is a mechanism to ease the application process for investors and traders.

In this method, the applier fills the application form, and an amount corresponding to the bids placed is blocked in their bank accounts as the bank transactions on your behalf. The amount is blocked till the allotment process gets concluded.

If you are allotted the shares, the amount gets debited, and the shares are transferred to your demat account. On the other hand, if you are not allotted any shares, the amount gets unblocked, and you can utilize it.

So, if you have a demat account, you can apply through ASBA. Otherwise, you need to open a demat account with a stockbroker of your choice.

There are more than 65 approved banks, and all the major banks of the country are on the list. A few of them are – State Bank of India, Axis Bank, Union Bank of India, HDFC Bank, Citi Bank, Bank of Baroda.

You can check the list on the official website of SEBI.

Since the banks need approval for ASBA, even the traders and investors have to meet some eligibility criteria. They are as follows:

➡️ The maximum investment amount for the IPO shares or securities is ₹2 Lakhs.

➡️ The IPO application should not be made under any reserved category offered by the organization.

➡️ The investor or trader should have an active demat account.

➡️ The investor or trader should retain the shares in a demat account and apply for the respective security in the dematerialized form.

➡️ They should apply via an approved bank to be on the ASBA list.

The complete process of applying through ASBA has been listed step by step below:

➡️ Login to your net banking portal.

➡️ In the menu of the dashboard, look for the Request button.

➡️ Click on it.

➡️ You will get redirected to the page for ‘IPO Application’.

➡️ Choose the IPO you are applying for.

➡️ Place the bid. You can place up to 3 bids.

➡️ Fill in the other details like depository details.

➡️ Confirm your application.

➡️ Click on Submit button.

After the application is submitted, the corresponding amount will be blocked till the time allotment process concludes.

Now we shall move ahead to the second online method, i.e., through UPI.

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How To Apply For Suryoday Small Finance Bank IPO Through UPI?

The process of applying through UPI is as follows:

• Install a UPI mobile application.
• Register your bank account to generate a UPI ID.
• Now, when you apply for the IPO, fill in the UPI ID under the payment section.
• An amount block request will be sent to you on the UPI mobile application.
• Approve it to proceed.
• The amount will be blocked till the allotment process concludes.

The amount will be unblocked or debited based on the allotment status. SEBI approved this payment method in 2019 as it had become popular among Indian citizens.

Now, you must be waiting for the answer to – how to apply for Suryoday Small Finance Bank IPO offline?

So, without further ado, here it is.

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How To Apply For Suryoday Small Finance Bank IPO Offline?

The offline process for ASBA is simple and straightforward. You just need to fill the IPO application form by visiting your nearest bank branch in person. Some details you need to mention in the application mandatorily are:

📑 Demat Account Number

📑 Bank Account Number

📑 PAN Card Number

📑 Bid Price

📑 Bid Quantity

After the form is filled, it is submitted to the respective bank executive, and they will process it through the designated portal.

Now, that we have intrigued your interest with all this information, we know you are going to search for the IPO dates. So, here is all the information we need.

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Suryoday Small Finance Bank IPO Date

We can bet that you do not want to miss out on any of the important days for this IPO as you are very much willing to invest. The list of dates starts with the opening date and ends with the IPO getting listed.

Here is a table with all the Suryoday Small Finance Bank IPO date:

 

Now that you are ready to invest, you must also know about the Suryoday Small Finance Bank IPO Price.

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Suryoday Small Finance Bank IPO Price

The prices involved in an IPO are issue price, fresh issue size, offer for sale, price band, and listing price of the share. All these have been tabulated below:

 

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Should You Subscribe Suryoday Small Finance Bank IPO?

The various ways to apply for Suryoday Small Finance Bank IPO have been discussed in great detail. The last component to discuss before we conclude the article is the objective of raising this IPO.

According to the Draft Red Herring Prospectus (DRHP) filed with the SEBI, the bank has proposed to utilize these net proceeds from the fresh issue for augmenting the bank’s tier 1 capital base to meet the future capital requirements.

The bank expects to receive the benefits of being listed on the Indian stock exchanges.

Before you make a call to apply for the IPO, make sure you perform a detailed analysis of the bank’s finances and other details. It is necessary to avoid investing in an IPO that might not be profitable for you in the long run.

We hope that we could answer your query – How to apply for Suryoday Small Finance Bank IPO?

Good Luck!

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Want to apply for the IPO, open a demat account now for free. Just fill the form below:

 

Know the Upcoming IPO GMP

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