Ujjivan Small Finance Bank (USFB) has announced that its initial public offer (IPO) that raised around 750 crore rupees will open on the 2nd of December.
The IPO, having a price band of 36 rupees to 37 rupees per equity share shall be closing on 4th December.
Ahead of this Initial Public Officer, USFB raised 250 crore rupees in a round of pre-IPO earlier in this this month.
USFB has chosen Kotak Mahindra Capital Company, the JM Financial and the IIFL Securities as the lead managers of the book running to the Issue.
USFB has filed the draft prospectus for their public offering on the 14th of August. The funds shall be used for the augmentation of the capital base as well as the future capital requirements of the bank. The bank has received the market regulator Securities as well as Exchange Board of the India’s approval for their IPO on 22nd October.
The parent microfinance lender of the bank Ujjivan Financial Services had gone public in the year 2016, after it had received an in-principle license from the Indian Reserve Bank for starting a small finance bank.
The shares of this company have closed at 4.60 percent more at 324.05 rupees on BSE.
Tags : Ujjivan Small Finance Bank, initial public offer, Kotak Mahindra Capital Company, Ujjivan Financial Services,