Suryoday Small Finance Bank shares debut on muted note

The small finance bank has over 20 institutional investors with a mix of institutional investors, development funds, and private equity investors. 

New Delhi: Suryoday Small Finance Bank on Friday made a tepid market debut as its shares closed with a discount of nearly 11 per cent from the issue price of Rs 305.

It listed at Rs 293, lower by 3.93 per cent from the issue price on BSE. Later, as trade progressed it declined 14 per cent to Rs 262.05. It closed at Rs 276.20, registering a decline of 9.44 per cent.

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On the NSE, the stock listed at Rs 292, a drop of 4.26 per cent. It closed lower by 10.90 per cent at Rs 271.75.

In traded volume terms, 5.08 lakh shares were traded at the BSE and over 41 lakh units at the NSE during the day.

The initial public offer of Suryoday Small Finance Bank was subscribed 2.37 times earlier this month.

Price range for the Rs 582-crore offer was at Rs 303-305 per share.The small finance bank has over 20 institutional investors with a mix of institutional investors, development funds, and private equity investors.