Incorporated in 2017, Ujjivan Small Finance Bank IPO Opens on December 2, price band is set at Rs.36-37 per Share
Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank which is planning to Raise Rs.750 Crore through an issue of fresh shares in the open market. The Issue will open on December 2 and will be open till December 4.
The application for Ujjivan Small Finance Bank IPO can be made in for minimum 400 equity shares and multiples of 400 Shares thereafter. An Investment of Rs.14,400/- to 14,800/- is required for Applying for 1 lot in the IPO. A Discount of Rs.2/- per share to the final share price will be given to shareholders of the holding company i.e. Ujjivan Financial Services to the total application limit of Rs.75 Crore. Cut off Date is 22nd November 2019 which means Investors who are Shareholders in the Register of Ujjivan Financial Services as 22nd November 2019 only are Eligible for Rs.2/- per Share Discount.
The book running lead managers to the issue are Kotak Mahindra Capital Company, IIFL Securities and JM Financial. Karvy Fintech Private Limited is the registrar to the issue.
Objectives of the IPO
- Augmenting the Bank’s Tier – 1 capital base to meet our Bank’s future capital requirements
- Meeting the expenses in relation to the Issue
- Receive the benefits of listing the Equity Shares on the Stock Exchanges
Ujjivan Small Finance Bank Background & Financials
As of 30th June 2019, Ujjivan Small Finance Bank Served 47+ Lakhs, Customers. It has 474 Bank Branches,387 ATM’s, Two Phone Banking Units, Mobile Banking Applications. It’s Financial Products includes MSME’s, Individual & Group Loans, Agricultural Loans, Personal and Vehicle loans, affordable housing loans.
Ujjivan’s Total Assets have grown from Rs.9,472 Crore as on 31st March 2018 to Rs.13,742 as on 31st March 2019. Total Revenue has increased from Rs.1,579 Crore to Rs.2,037 Crore. PAT (Profit After Tax) has grown 30x Multifold from Rs.6 Crore as on 31st March 2018 to Rs.204 Crore as on 31st March 2019.
Details of Ujjivan Small Finance Bank IPO
Opening Date – 2nd December 2019
Closing Date – 4th December 2019
Price Band – Rs.36 to Rs.37 per Share
Lot Size – Minimum 400 Equity Shares thereafter in Multiples of 400 Shares
Finalisation of Basis of Allotment – 9th December 2019
Initiation of Refunds – 10th December 2019
Credit of Shares to Demat Account – 11th December 2019
Shares Listing Date – 12th December 2019
Pre IPO Round
The Small Finance Bank has Completed Pre IPO Placement Round of 7.14 Crore Equity Shares Amounting to Rs.250 Crore issued at a Share Price of Rs.35 per share which was led by IIFL Group Funds, PE Fund of Avendus Capital and Akash Bhansali of Enam Group. IIFL Invested Rs.136 Crore, Avendus Capital Infused Rs.32.50 Crore while Bhansali invested Rs.25 Crore Balance was invested by Several HNI’s.
The Market Capitalisation of the Company Post IPO would be Around Rs.5000 Crore.
Also Read – What is Bonus Share? How it Affects Shareholders
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