Ujjivan Small Finance Bank has branches in 24 states and a customer base of 49 lakh.Ujjivan Small Finance Bank or USFB will launch its initial public offer (IPO) on December 2.
The public offering will be open for subscription for three days starting December 2.
The bank has fixed an issue price band of Rs 36-37 per share for the Rs 750-crore IPO.
Ahead of the IPO, USFB raised Rs 250 crore in a pre-IPO round this month.
Ujjivan Small Finance Bank has branches in 24 states and a customer base of 49 lakh as of September 30, 2019.
The bank's parent, microfinance lender Ujjivan Financial Services, went public in 2016 after receiving an in-principle licence from the Reserve Bank of India to start a small finance bank.The IPO of Ujjivan Small Finance Bank comprises a fresh issue of equity shares aggregating up to around Rs 750 crore.
A portion of the issue, aggregating up to Rs 75 crore, has been made available for the eligible Ujjivan Financial Services (UFSL) shareholders on a proportionate basis."For this purpose, individuals and HUFs (Hindu Undivided Families) who are the public equity shareholders of UFSL as on the date of the red herring prospectus (RHP) which is, November 22, 2019are the eligible UFSL shareholders," the bank said in a regulatory filing.These shareholders will also get a discount of Rs 2 per share on the final issue price.The bank had filed its draft prospectus for the IPO on August 14 and received market regulator Securities and Exchange Board of India (Sebi)'s approval for the issue on October 16.Ujjivan Small Finance Bank IPO Lot SizeThe bids can be made for a minimum of 400 equity shares and in multiples of 400 equity shares thereafter.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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