New Delhi: The Ujjivan Small Finance Bank stock on Thursday was trading at Rs 58.10 per share on the Bombay Stock Exchange (BSE) index, which is a premium of 56.76 per cent from its issue price of Rs 37 per share, stated a report.
Meanwhile, on the National Stock Exchange of India (NSE), the bank’s scrip was listed at Rs 58.75 on Thursday at a premium of 58.78 per cent over the issue price, added the report. Thus the Ujjivan Small Finance Bank stock was listed on BSE as well as NSE.
The parent company of Ujjivan Small Finance Bank is microfinance lender Ujjivan Financial Services. The bank had served an estimated 4.7 million customers as of June 30 this year, stated a report by the Live Mint. On December 2, Ujjivan Small Finance Bank had opened its subscription to raise Rs 750 crore through the initial public offering, stated a report. At a price band of Rs 36-37 per share, the bank recorded a subscription of over 40 per cent in just two hours, added the report. In other words, the bank’s IPO was subscribed over 165 times.
While qualified institutional buyers (QIBs) category witnessed a subscription of 111 times, the non-institutional investors (NIIs) category was subscribed 473 times and the retail investors category at over 49 times, stated news agency PTI. This offer was managed by Kotak Mahindra Capital Company and JM Financial and IIFL Securities. Notably, Ujjivan Small Finance Bank would utilise the proceeds from the offering to increase its Tier-1 capital base and also to meet the expenses incurred during the issue of shares, stated a report.