Allotment of shares for Ujjivan Small Finance Bank IPO is in progress today. Those who had applied for shares in the Rs 750-crore IPO can check their allotment status through application number, DPID/ Client ID or PAN card number. The stock of Ujjivan Small Finance Bank will be listed on BSE and NSE on December 12. The issue received a bumper subscription on final day on December 4.
The IPO which opened on December 2 was subscribed 166 times on the final day of bidding. Against the issue size of 12.39 crore shares, Ujjivan Small Finance Bank IPO received bids for 2,053.5 crore share.
Shares were available in the IPO at a price band of Rs 36-Rs 37. Ujjivan Small Finance Bank IPO received bids for around Rs 76,000 crore.
The portion allocated for retail investors was subscribed 48.67 times. Shareholders of the parent firm Ujjivan Financial Services Limited were given a discount of Rs 2 per equity share on the issue price. The quota reserved for qualified institutional buyers saw 110.72 times subscription and non institutional investors put in bids for 473 times for the portion of shares reserved for them.
Subscription for the IPO was available in lots of 400 equity shares and in multiples of 400 shares thereafter. Lead managers for the IPO were IIFL Holdings Limited, JM Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited.
Its parent firm microfinance lender Ujjivan Financial Services was listed public in 2016, after getting an in-principle licence from the Reserve Bank of India to start a small finance bank.
A day before the IPO, the bank raised Rs 303.75 crore from anchor investors. The small finance bank finalised the allocation of 8,20,94,594 shares at Rs 37 apiece to 18 anchor investors. Government of Singapore, Monetary Authority of Singapore, CX Partners Fund, Aberdeen, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, Goldman Sachs India, ICICI Prudential participated in the anchor investor bidding, the bank said.
By Aseem Thapliyal