Ujjivan Small Finance Bank Files For IPO
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.
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.