Bottom fishing? Down 75% from IPO price, Dolly Khanna picked stake in this small finance bank in Q1

Suryoday Small Finance Bank had listed on bourses in 2021.

According to the latest shareholding data, Dolly Khanna held 12,27,986 equity shares or a 1.16 per cent stake in the small finance bank as of June 30, 2022. Her stake in the lender is worth Rs 9.8 crore.

Her name was missing from the list of top shareholders in the March quarter. All listed entities are obliged to reveal shareholder names only if the stake is at least one per cent.

Suryoday Small Finance Bank recorded a 21 per cent rise in total deposits to Rs 4,020 crore on a yearly basis, during the first quarter of the fiscal year 2022-23, a regulatory filing stated on July 11.

The board of Suryoday Small Finance Bank is slated to meet on August 4, 2022, to consider and approve the quarterly financial earnings for the period ended June 30, 2022.

The lender had raised more than Rs 582 crore through its primary stake sale by selling shares for Rs 303-305. However, the scrip had a muted debut and it never touched its issue price since listing.

Shares of Suryoday Small Finance Bank have eroded about three fourth of their value from its issue price of Rs 305 and were trading close to Rs 80 on Monday.

Recently, the Reserve Bank of India (RBI) had imposed a penalty of Rs 57.75 lakh on the company for non-compliance with norms related to fraud classification.

According to data from Trendlyne, Dolly Khanna publicly holds 26 stocks with a net worth of over Rs 566.6 crore a