Ujjivan

Third CEO in five years; current CEO Davis to be relieved early

Lender reports 45% growth in deposits to Rs 20,389 crore at the end of the quarter

Ujjivan Small Finance Bank, after facing headwinds amid the COVID-19 pandemic, is charting out a more balanced growth path by increasing its secured loan book to 50 per cent of total assets in 2 years

For depositors aged under 60, the bank is offering 6.5% for a 12 months tenure, and 6.6% for 19-24 months; seniors get an additional 75 bps across tenures

On the National Stock Exchange (NSE), it plunged 6% to close at Rs 52.55

The HNI segment had seen oversubscription to the tune of 486 times

According to investment bankers, the issue was of over 16 million applications, making it one of the most-subscribed IPOs

Only 10% of the shares on offer were reserved for retail investors, against the usual 35%

Singapore govt, CX Partners are key anchor investors

Ability to diversify is well demonstrated; its effectiveness may take a while to reflect on numbers

The shareholders of Ujjivan Financial Services will get shares at a discount of Rs 2 per share to the final issue price.

After five years of operations as SFBs, RBI norms allow the SFBs to go for reverse merger

The Street is bracing for an elevated asset quality stress for MFIs

Income rose 50% to Rs 329 cr

Over-subscription, rise in IPO loan rates push up costs, eat into listing gains

Micro-lender says that the identification process for such new banks has already begun

The reverse merger, which is necessary to meet regulatory norms, would be that of Ujjivan Financial Services and its banking subsidiary

Foreign shareholding to come down to 45%, from 77%