View – Short & Long Term Investors Can Apply
Issue Highlights
Incorporated in 2008 as Micro Finance bank, Suryoday become a SFB in the span of 8 years. It has now expanded over 13 states and UTs, and aims to raise ~INR 582 Crs through this issue.
Issue Details
Company Strengths
- Customer centric approach with a focus on financial inclusion.
- Diversified asset portfolio with a focus on retail operations.
- Fast evolving granular deposit franchise
- Leveraging emerging technologies to enhance digital footprint
- Strong credit processes and robust risk management framework
- Strong past financial performance
- Multiple distribution channels
- Experienced leadership team
Valuation
The bank is getting listed at PE of 36.95 on the basis of Forward FY 21 EPS, against the sector PE of 39.5. We recommend to apply for the issue based on its attractive valuation and strong financials.
Issue Break-Up
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