The Rs 885-crore public issue received bids for 2,43,26,820 shares against the total issue size of 2,96,63,706 shares, as per data available with stock exchanges till 1900 hours.
The qualified institutional buyers (QIBs) category was subscribed 63 per cent, while non-institutional investors' quota was 33 per cent.
The portion set aside for retail investors was oversubscribed 1.15 per cent.
These figures are based on the upper price band of Rs 210 per share.
Ujjivan's issue, which is scheduled to close on May 2, comprises fresh issuance of shares worth Rs 358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders.
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Ujjivan has raised nearly Rs 265 crore from anchor investors by selling shares at a price of Rs 210 apiece.
The company, which has already received in-principle nod to set up a small finance bank, would be the second microfinance firm to go public this fiscal. Another microfinance firm Equitas Holdings came out with its IPO earlier this month.
This is also the third microfinance firm to go public.
The share sale would help Ujjivan bring down the foreign shareholding to around 45 per cent from the current 77 per cent, which is required as per RBI guidelines for setting up a small finance bank.