Ujjivan Financial Services to make stock market debut on Tuesday

 PTI   Mumbai     Last Updated: May 9, 2016  | 15:54 IST
Ujjivan Financial Services to make stock market debut on Tuesday
Photo: Reuters

Microfinance player Ujjivan Financial Services, which witnessed robust demand for its recently-concluded IPO, will list shares on the bourses on Tuesday.

The Rs 885-crore IPO of Ujjivan Financial Services was oversubscribed nearly 41 times earlier this month.

Ujjivan's issue comprised fresh issuance of shares worth Rs 358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders.

Price band for the offer was fixed at Rs 207-210 and was open for subscription from April 28-May 2.

The company, which has already received in-principle nod to set up a small finance bank, is the second microfinance firm to go public this fiscal. Another microfinance firm Equitas Holdings came out with its IPO last month.

This is also the third microfinance firm to go public.

The issue was managed by Kotak Mahindra Capital Company, Axis Capital, ICICI Securities and IIFL Holdings.

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