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Microfinance lender's IPO oversubscribed 126 times!

Source: PTI
December 04, 2019 17:27 IST

Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times. 

The Rs 750-crore initial public offering (IPO) received bids for 1,566 crore shares against the total issue size of 12.39 crore shares, as per the data available with the NSE till 1530 hours. 

The IPO was subscribed 4.86 times on the second day of subscription on Tuesday. 

The price range for the offer has been fixed at Rs 36-37 per share. 

 

Ujjivan Small Finance Bank mopped up Rs 303.75 crore from anchor investors, according to a statement by the company. 

The 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. 

Kotak Mahindra Capital Company, JM Financial and IIFL Securities are managing the offer. 

Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank. 

Illustration: Uttam Ghosh/Rediff.com.

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