Ujjivan SFB IPO subscribed 170 times

Our Bureau Mumbai | Updated 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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like