For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Ujjivan Small Finance Bank Files For IPO

By Staff
|

Ujjivan Small Finance Bank has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an inital public offering (IPO) to raise Rs 1,200 crore.

Ujjivan Small Finance Bank Files For IPO
 

In a BSE Filing on Friday, Ujjivan Financial Services said, "Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore."

Ujjivan Financial Services is a microfinance lender that is the holding company of Ujjivan Small Finance Bank.

The price band for public issue is liekly to be determined in consultation with the book running lead managers to the issue, it said. Proceeds of the issue will be used to augment the company's capital base to meet future requirements.

The bank has appointed Kotak Mahindra Capital Company, IIFL Securities and JM Financial as book running lead managers to the issue.

The public issue is going to include a reservation of equity shares aggregating up to around Rs 120 crore for subscription by eligible Ujjivan Financial shareholders.

The issue is subject to receipt of requisite regulatory approvals, market conditions and other considerations, it added.

In February, Ujjivan Financial Services raised Rs 300 crore from a clutch of investors, including HDFC Life and Sundaram MF, in a pre-IPO placement.

The issue is subject to receipt of requisite regulatory approvals, market conditions and other considerations, it added.

Story first published: Friday, August 16, 2019, 21:52 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more