Ujjivan Small Finance Bank IPO Oversubscribed On Day 1

The initial public offering of Ujjivan Small Finance Bank has been oversubscribed by 1.52 times on day one of the issue. The offer is open from 2 to 4 December.

Before the end of the session on Monday, the IPO received bids for 18.92 crore equity shares against IPO size of 12.39 crore shares (excluding anchor portion), as per data on the exchanges.

The retail investors' portion was oversubscribed by 8 times while the reserved category of non-institutional investors was subscribed 34 percent and that of qualified institutional buyers 23 percent.

The portion reserved for shareholders of Ujjivan Financial Services were subscribed by 65 percent.

Last week, Ujjivan Small Finance Bank raised Rs 303.75 crore in anchor allotment. The small finance bank has finalised allocation of 8,20,94,594 shares at Rs 37 per share, which is also the upper limit of its IPO's price band.

Government of Singapore, CX Partners Fund 2, Goldman Sachs India, Aberdeen Standard Asian Smaller Companies Fund, HDFC Life Insurance, Sundaram Mutual Fund and Bajaj Allianz Life Insurance were among the key anchor investors.