Stocks

Ujjivan SFB gains 50% on Day 1 of listing

Our Bueau Chennai | Updated on December 12, 2019 Published on December 12, 2019

Ujjivan Small Finance Bank on Thursday made a stellar debut with the stock delivering a gains of about 50 per cent on the first day of listing. As against the issue price of ₹37, the stock opened at ₹58, on the BSE, and touched a high of ₹62.8 and a low of ₹53.1 before closing at ₹55.35. On the NSE, the stock closed at ₹55.4.

The IPO of Ujjivan SFB was subscribed 170.24 times.

Nitin Chugh, MD and CEO of Ujjivan SFB, in a statement, said he was truly overwhelmed and humbled to have witnessed such a strong opening of USFB’s stock at NSE.

“We thank the investors for expressing their confidence in us. We also stand firmly in our resolve to serve the unserved and underserved segments of the aspiring middle class in India,” Chugh said.

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Published on December 12, 2019
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