Street cheers for Ujjivan Small Finance Bank, IPO sees 170x subscription

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

The initial public offering (IPO) of Ujjivan Small Finance Bank (SFB), on Wednesday, saw 170x demand over the number of shares on offer. The institutional investor portion saw 114x oversubscription, high-net worth individual (HNI) segment saw 486x 

oversubscription and the retail portion was subscribed nearly 50x.

Market players said the encouraging listing day performance of new listings such as IRCTC and CSB Bank, coupled with Ujjivan SFB’s high growth potential, attracted investors towards the maiden offering.

The Rs 442-crore IPO generated bids worth nearly Rs 76,000 crore. Ujjivan SFB’s total issue size was around Rs 750 crore. However, it had allotted a little