IPO of Ujjivan Small Finance Bank fully subscribed

NEW DELHI: The initial public offering (IPO) of Ujjivan Small Finance Bank It was fully subscribed on the first day of the tender.

The IPO received bids for 13,54,65,200 shares against the total issuance size of 12,39,58,333 shares, which translates into a subscription of 1.09 times until 1500 hours.

The initial public offering (IPO) is up to Rs 750 million.

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

The government of Singapore, the 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 bidding of anchor investors.

The offer price range, which is scheduled to close on Wednesday, has been set at 36-37 rupees per share.

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

The microfinance lender Ujjivan Financial Services is the holding of Ujjivan Small Finance Bank.