Ujjivan SFB slips 8%, hits record low on resignation of MD & CEO

Nitin Chugh, Managing Director and CEO of Ujjivan Small Finance Bank, tendered his resignation, citing personal reasons

Shares of Ujjivan Small Finance Bank (SFB) hit a record low of Rs 22.25, down 8 per cent, on the BSE in intra-day trade on Friday following the resignation of Nitin Chugh from the position of Managing Director (MD) and CEO of the bank w.e.f. close of business hours on September 30, 2021, citing personal reasons.

The bank had made a stock market debut in December 2019. It hit a record high of Rs 63 on December 12, 2019. Ujjivan SFB had raised Rs 750 crore through an initial public offer (IPO) at a price of Rs 37 per share.

Meanwhile, shares