New Delhi: Ujjivan Small Finance Bank is slated to begin its initial public offering (IPO) with a share price of Rs 36 -37 on December 2 this year, stated a report. In addition to offering equity shares totaling up to Rs 750 crore, Rs 75 crore-worth shares will be raised from eligible Ujjivan Financial Services shareholders on a proportionate basis, added the report.
Here’s All You Need to Know About Ujjivan Small Finance Bank IPO:
1) The date of the issue of shares is December 2, 2019.
2) The date of closing the share issue is December 4, 2019.
3) Each share will be sold at a value of Rs 36 to Rs 37.
4) All the eligible Ujjivan Financial Services Shareholders can avail a discount of Rs 2 on the issue price of each equity shares.
5) USFB has planned to raise up to Rs 750 crore through this IPO.
The parent company of Ujjivan Small Finance Bank is microfinance lender Ujjivan Financial Services. By the end of the initial public offering, Ujjivan Small Finance Bank will also be listed just like AU Small Finance Bank. The bank had served an estimated 4.7 million customers as of June 30 this year, stated a report by Live Mint.