Ujjivan SFB IPO subscribed 170 times

Our Bureau Mumbai | Updated on December 04, 2019 Published on December 04, 2019

Ujjivan Small Finance Bank’s (USFB) IPO got a thumping response, receiving subscription of about 170 times of the total issue size of ₹442 crore.

This data is as at 6.45 pm on Wednesday, the last day of the subscription, excludes the investments via the anchor portion. The IPO was offered at a price band of ₹36-37 a share. USFB’s IPO has become the most subscribed IPO in 2019.

USFB’s IPO comprises fresh issue of equity shares aggregating up to ₹750 crore and a portion of the issue, aggregating up to ₹75 crore, was made available for the eligible Ujjivan Financial Services (the holding company of USFB) shareholders on a proportionate basis. The holding company shareholders could subscribe to the IPO at a ₹2 discount.

Out of the total issue size, USFB had on November 29 mopped up ₹303.75 crore from 18 anchor investors.

USFB proposes to utilise the net proceeds from the issue towards augmenting its Tier 1 capital base to meet its future capital requirements. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.

Published on December 04, 2019
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