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Ahead of IPO, Ujjivan Small Finance Bank garners Rs 304 crore from anchor book

November 30
21:33 2019

Ujjivan Small Finance Bank (USFB), on November 29, has garnered Rs 303.75 crore from anchor investors ahead of its initial public offering (IPO), which will be available for subscription on December 2.

USFB has finalised the allocation of 8,20,94,594 shares at Rs 37 apiece to 18 anchor investors that including marquee names like the Government of Singapore, Goldman Sachs India, HDFC Life Insurance Company etc.

Among others, the Monetary Authority of Singapore, CX Partners Fund, Aberdeen, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, ICICI Prudential etc also participated in the anchor investor bidding.

USFB, which aims to raise Rs 750 crore to augment its Tier 1 capital, has fixed a price band of Rs 36-37 per share for the IPO, which will close on December 4.

The public issue comprises a fresh issue of Rs 750 crore and a portion of the issue, Rs 75 crore, has been reserved for Ujjivan Financial Services’ shareholders.

The shareholders of Ujjivan Financial Services will get shares at a discount of Rs 2 per share to the final issue price. Ujjivan Financial Services is the promoter of Ujjivan Small Finance Bank.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

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