Ujjivan Small Finance Bank Ltd raises Rs. 75 crores through Tier 2 capital

The Committee of Directors (Authorized Board Committee) of Ujjivan Small Finance Bank Ltd today, on September 09, 2022 has approved the re-issuance/further issue and allotment of 7,500 (Seven Thousand Five Hundred) subordinated, rated, unlisted, unsecured, transferable, redeemable, fully paid up, non-convertible debentures, denominated in Indian Rupees, having a face value of INR 1,00,000 (Indian Rupees One Lakh) each and an aggregate face value of INR 75,00,00,000 (Indian Rupees Seventy Five Crore), in the form of subordinated debt eligible to be classified as Tier II Capital in accordance with the Reserve Bank of India's "Master Circular - Prudential Guidelines on Capital Adequacy and Market Discipline-New Capital Adequacy Framework (NCAF)" dated July 1, 2015, on a private placement basis.

Care Ratings Limited vide its letter dated July 04, 2022 has assigned its CARE A+; Stable (Single A Plus; Outlook: Stable) rating on the Subordinated Non-Convertible Debentures of Rs. 500 Crores (Rupees Five Hundred Crores Only) of the Bank and the same rating has been revalidated by Care Ratings Limited vide its letter dated August 24, 2022.

The Coupon/Interest Offered is 11.95% (eleven decimal nine five percent) per annum ("Interest Rate").

Source : Equity Bulls

Keywords

UjjivanSmallFinanceBank Debentures FundRaising Tier2Capital