Ujjivan Small Finance Bank IPO oversubscribed 3.98 times

The retail investor category, which is 10% of the total issue size, has been oversubscribed by 20.9 times.

Dec 03, 2019 03:12 IST India Infoline News Service

Initial Public Offer, IPO
The initial public offering of Ujjivan Small Finance Bank (USFB) has been oversubscribed 3.98 times on Day 2 of bidding, as per exchange data.

The issue opened on December 2, 2019, and will close on Wednesday, 4, December, 2019. The price band has been fixed at Rs36 to Rs37 per share.

The retail investor category, which is 10% of the total issue size, has been oversubscribed by 20.9 times.

The portion set aside for qualified institutional buyers was subscribed for 56% and that of non-institutional investors has received 1.39 times subscription.

Government of Singapore, Monetary Authority of Singapore, CX Partners Fund, Aberdeen, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, Goldman Sachs India, ICICI Prudential participated in the anchor investor bidding.

The proposed Issue of USFB comprises a fresh issue of equity shares aggregating up to Rs750cr and a portion of the issue, aggregating up to Rs75cr, has been made available for the eligible UFSL shareholders, on a proportionate basis.

The shareholders of Ujjivan Financial Services will get shares at a discount of Rs2 per share to the final issue price. Ujjivan Financial Services, the promoter of Ujjivan Small Finance Bank, had commenced operations as an NBFC in 2005.


Related Story