Ujjivan Small Finance Bank Ltd files DRHP with SEBI for IPO

Today, August 16, 2019, Ujjivan Small Finance Bank Limited (USFB), subsidiary of Ujjivan Financial Services Ltd (UFSL) has filed its Draft Red Herring Prospectus (DRHP) with SEBI for its proposed initial public offering of its equity shares.

USFB is proposing to undertake an initial public offering of equity shares of face value of Rs. 10 each of UFSB ("Equity Shares" and such offering, the "Issue"), comprising a fresh issue of Equity Shares by USFB aggregating up to Rs. 12,000 million, at such price as may be determined by USFB in consultation with the book running lead managers to the Issue, namely Kotak Mahindra Capital Company Limited, IIFL Securities Limited and JM Financial Limited through the book building process under the SEBI ICDR Regulations.

The Issue includes a reservation of Equity Shares aggregating up to Rs. 1,200 million for subscription by Eligible UFSL Shareholders, as defined in the DRHP. The Issue is subject to receipt of requisite regulatory approvals, market conditions and other considerations.

Shares of Ujjivan Financial Services Ltd was last trading in BSE at Rs.282.6 as compared to the previous close of Rs. 282.85. The total number of shares traded during the day was 71998 in over 890 trades.

The stock hit an intraday high of Rs. 285.25 and intraday low of 275.35. The net turnover during the day was Rs. 20260085.

Source : Equity Bulls

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