Jakarta. Super Bank Indonesia (Superbank), officially debuted on the Indonesia Stock Exchange (IDX) on Wednesday, with its shares jumping to the upper trading limit shortly after listing.

Trading under the ticker SUPA, the company's shares surged 24.41%, hitting an auto-reject upper limit, following an initial public offering that raised Rp 2.79 trillion ($167.03 million) in fresh funds. The lender priced its IPO at Rp 635 per share, offering 4.4 billion shares, equivalent to 13% of its issued and paid-up capital after the listing.

The public offering period ran from Dec. 10 to Dec. 15, with the shares formally listed on Dec. 17. Investor appetite was strong, with the IPO oversubscribed by 318.69 times during the offering period.

Superbank said around 70% of the net IPO proceeds will be allocated to working capital, primarily to expand lending to underbanked retail customers and micro, small and medium enterprises. The remaining 30% will be used for capital expenditure, including the development of funding and financing products, digital payment systems, information technology infrastructure, operational system enhancements, and long-term investments in artificial intelligence, data analytics and cybersecurity. Capital spending will be deployed gradually from 2026 over the next five years.

Following the IPO, Superbank’s core capital rose to Rp 8 trillion ($478.87 million), lifting the digital lender — backed by Grab, Emtek, Singtel, KakaoBank and GXS — into the mid-tier (KBMI 2) capital category. As of September 2025, its core capital stood at Rp 4.88 trillion, placing it in KBMI 1.

“Under OJK regulations, banks with core capital above Rp 6 trillion fall into KBMI 2. As of today we qualify as KBMI 2,” President Director Tigor M. Siahaan said during the listing ceremony in Jakarta.

Tigor added that while there is a formal process with the Financial Services Authority (OJK) for reclassification, Superbank already meets the requirements and considers its current capital sufficient for short- and medium-term needs.

The OJK has encouraged smaller banks to strengthen their capital above Rp 6 trillion to move into KBMI 2, as part of efforts to bolster banking sector resilience and competitiveness.

Post-IPO, Superbank’s shareholders include Elang Media Visitama, a subsidiary of Elang Mahkota Teknologi, Kudo Teknologi Indonesia, A5–DB Holdings, GXS Bank, KakaoBank and Singtel Alpha Investments. Company disclosures as of August 2025 show that Grab Holdings holds stakes in Superbank through Kudo Teknologi Indonesia, A5–DB Holdings and GXS Bank.

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