Abhishek Securities

  Suryoday Small Finance Bank Limited (SSFBL) has filed its Draft Red Herring Prospectus for an  Initial Public Offer (IPO) of up to 20,061,796 equity shares of face value Rs 10 each. The SFB plans to utilise the net proceeds from the fresh issue towards augmenting the bank’s Tier – 1 capital base in order to meet the bank’s future capital requirements, SSFBL said in a statement. This issue will be made via a book-building process, with Axis Capital, ICICI Securities, SBI Capital Markets, and IIFL Securities being the merchant bankers of the issue. Shares of the bank will be listed on BSE and NSE. Those offering shares through the offer for sale (OFS) route include International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd, and Americorp Ventures. Suryoday’s AUM  grew by 71 percent to Rs 3,003 crore, with 20 percent of this  contributed by affordable ...

  Paytm  has announced its partnership with  Suryoday Small Finance Bank  to empower  MSMEs  with instant digital loans. The company is offering instant microloans to businesses that are unable to access financial services from traditional banking players. The company through this partnership is aiming at disbursing  loans  to over 1 lakh small businesses in the next 12 to 18 months. Merchants will not have to visit the bank branch as the entire journey from application to approval will be completed on the Paytm app itself. The underwriting will be done as per an agreed credit policy of the bank within seconds and post-approval the customer will be disbursed by Suryoday. In a statement, Baskar Babu, MD & CEO, Suryoday Small Finance Bank said, “This tie-up will help us deliver credit on click for small business owners and ensure access to it whenever they want." "Our partnership aims towards democratizing access to loans for small busines...

    Equitas Holdings   NSE -0.96 %  on Monday said  RBI  has lifted the  restrictions  imposed on its  small finance bank subsidiary  in  September last year . The Reserve Bank lifted the restrictions on  Equitas Small Finance Bank  (ESFB) subsequent to the listing of its equity shares, Equitas Holdings said in a BSE filing. "Subsequent to the listing of equity shares of...ESFB, RBI vide its letter dated November 9, 2020 has acceded to request of the bank for lifting the regulatory restrictions," it said. RBI had restricted ESFB from opening new branches and froze the remuneration of MD&CEO at the then existing level. "In this connection, we accede to your request for lifting the regulatory restrictions imposed on Equitas Small Finance Bank vide our letter dated September 6, 2019," the RBI letter attached with the filing said. The shares of ESFB were listed on stock exchanges NSE and BSE with effect from Novemb...