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Ujjivan Small Finance Bank IPO subscribed 166 times on final day, receives bids worth Rs 76,000 crore

The IPO of Ujjivan Small Finance Bank received bids for 2,053.5 crore shares against the issue size of 12.39 crore shares

twitter-logo BusinessToday.In        Last Updated: December 5, 2019  | 10:16 IST
Ujjivan Small Finance Bank IPO subscribed 166 times on final day, receives bids worth Rs 76,000 crore
At the price band of Rs 36-Rs 37, Ujjivan Small Finance Bank IPO received bids for around Rs 76,000 crore

The initial public offer (IPO) of Ujjivan Small Finance Bank was subscribed 166 times on the final day of bidding on December 4. The IPO received bids for 2,053.5 crore shares against the issue size of 12.39 crore shares. At the price band of Rs 36-Rs 37, Ujjivan Small Finance Bank IPO received bids for around Rs 76,000 crore.  Almost all analysts and brokerages had given a subscribe call to the IPO.

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.

Also read: Ujjivan Small Finance Bank IPO receives strong response, subscribed 2.43 times till 12:00 pm

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.

The IPO through which the bank plans to raise Rs 750 crore opened on December 2. The proposed date for listing of the bank on bourses is December 12.

The bank raised Rs 303.75 crore from anchor investors a day before the issue.  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.

Shares of the IPO were 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.

Ujjivan Small Finance Bank IPO: Here's all you need to know

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.

By Aseem Thapliyal

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