Ujjivan SFB's board nods Rs1,500 crore fund raise; stock slips ~1%

8 Jun 2022 , 02:33 PM

Ujjivan Small Finance Bank Limited’s Board of Directors, in its meeting held today, has considered and approved the proposal for raising of funds by way of issuance of non-convertible debt securities upto Rs1,500 crore.

The issue is on a private placement basis in one or more tranches, within a period of 1 year from the date of seeking shareholders’ approval, in compliance with all applicable directions and regulations of the Reserve Bank of India, SEBI, other governmental authorities, and any other person, as may be required/applicable.

The board will be seeking the shareholders’ approval through a postal ballot and the notice to the shareholders will be sent in due course under due intimation to the Exchanges.

Ujjivan SFB’s counter was trading at Rs136.80 down by Rs1.65 or 1.19% from its previous closing of Rs138.45 on the BSE. The scrip touched intraday high and low of Rs142.15 and Rs136.50 respectively.