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Ujjivan Financial Services, a microfinance company with a licence to convert to a small finance bank, saw tremendous demand for its shares in its first public share sale, which ended on Monday.
The company’s IPO was subscribed 41 times. Bengaluru-based Ujjivan wanted to raise ₹875-882 crore from the market, with its shares being priced in the ₹207-210 band. By 7.30 p.m. on Monday, retail investors had bid 3.99 times while institutional investors bid 34.33 times.
HNI investors showed the most enthusiasm, bidding for 136.25 times their portion. Before the bid/issue period opened, the company raised ₹264.75 crore from anchor investors.
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