Ujjivan Small Finance Bank raises ₹304 cr from 18 anchor investors ahead of IPO

Our Bureau Mumbai | Updated on November 30, 2019 Published on November 30, 2019

Ujjivan Small Finance Bank (USFB) on Saturday said it has mopped up ₹303.75 crore from anchor investors ahead of its Initial Public Offering (IPO), which commences on December 2.

The Bank has finalised the allocation of 8,20,94,594 shares at ₹37 apiece to 18 anchor investors.

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, according to a statement issued by USFB.

USFB, which is seeking to raise ₹750 crore to augment its Tier 1 capital, has fixed a price band of ₹36-37 per share for the IPO.

Read also - Ujjivan Small Finance Bank IPO: Should you subscribe?

The Bank's proposed IPO comprises a fresh issue of equity shares aggregating up to ₹750 crore and a portion of the issue, aggregating up to ₹75 crore, has been made available for the eligible UFSL (Ujjivan Financial Services Ltd) shareholders, on a proportionate basis.

The shareholders of Ujjivan Financial Services will get shares at a discount of ₹2 per share to the final issue price, the statement said. Ujjivan Financial Services, the promoter of Ujjivan Small Finance Bank, had commenced operations as an NBFC in 2005.

Published on November 30, 2019
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