Suryoday Small Finance Bank IPO: KRChoksey’s Investment Analysis
A vendor counts Indian rupee banknotes at a vegetable wholesale market in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Suryoday Small Finance Bank IPO: KRChoksey’s Investment Analysis

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KRChoksey Report

Formerly recognised Suryoday Micro Finance Ltd., incorporated on November 10, 2008, at Chennai, Tamil Nadu.

Currently headquartered at Navi Mumbai, Maharashtra, Suryoday Small Finance Bank Ltd. started its operations on January 23, 2017, after the RBI’s approval.

As of December 2020, the bank operates through its 554 banking outlets spread across India’s 13 States and Union Territories; mainly concentrated in Maharashtra, Tamil Nadu and Odisha.

As of December 2020, the microfinance book stood at ~70% of the gross Loan Portfolio.

Besides, it offers diverse asset products of commercial vehicle loans, affordable home loans, micro business loans, secured and unsecured business loans to MSME/SME and corporates and Financial Intermediary Groups loans.

Click on the attachment to read the full report:

KRChoksey Suryoday SFB IPO Note.pdf

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