New Delhi: Ujjivan Small Finance Bank (USFB), which recently received an overwhelming response for its Rs 750 crore initial public offering (IPO), is on Tuesday likely to finalise the allotment of shares. The USFB IPO is now the most subscribed IPO of the year after being oversubscribed by more than 165 times. Also Read - Ujjivan Small Finance Bank Shares Trades at Rs 58.10 Each on BSE Index With 59% Premium Over Issue Price
Those who invested in the IPO can check the status of their allotment on corpreg.karvy.com/ipostatus, Karvy Fintech being the registrar of the IPO. The allotment status can be checked using application ID, DPID/client ID or using the PAN card number. Share allotment, meanwhile, is done according to SEBI rules. Also Read - CSB Bank makes strong debut, jumps 41% against issue price of Rs 195; m-cap stands at Rs 5,157.71 cr
With a price band of Rs 36-37 and a face value of Rs 10, the IPO was open between December 2-4. According to a Reuters report, the bank has finalised Rs 37 as the allotment process, which means that anyone bidding below Rs 37 will not be eligible for allotment of shares. The existing shareholders of Ujjivan Financial Services Limited, USFB’s parent company, meanwhile, have been offered a discount of Rs 2 per share. Also Read - Ujjivan Small Finance Bank Issues Rs 750 Crores IPO; Over 40% Subscription Recorded in Just 2 Hours
The bank’s IPO comes just a week after Kerala-based CSB Bank made a mega subscription and trading debut last week, with its shares surging 53.9% on listing day.
A small finance bank, Ujjivan Small Finance Bank, was formed on February 1, 2017 by Samit Ghosh. It is headquartered in Bengaluru.