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Word is out that there will be relatively few takers for SFB licences compared to the 72 applicants who lined up in February 2015
Ujjivan Small Finance Bank (Ujjivan SFB) is now getting on to a higher growth orbit after having been listed
The stock of the lender saw a stellar listing at the bourses on December 12, 2019. Issued at a price of Rs 37, the shares got listed at Rs 58 apiece on the BSE, a 57% premium against the issue price
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
Ujjivan SFB stock touched a high of Rs 62.8 and low of Rs 53 on the National Stock Exchange
The issue saw the highest subscription among all IPOs since January 2018
The IPO of the lender, which was open for subscription during December 2-4, was subscribed more than 170 times at a price band of Rs 36-37 per share
In October, some large domestic mutual funds took an aggressive position in the stock, monthly disclosures show
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%
Established in 2017, the Ujjivan Financial Services-controlled Small Finance Bank offers small finance to underserved and unserved segments in India.
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Activity at the counter had picked up even before the price band of Rs 36-37 for its IPO was announced
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.
The lender commenced operations in February 2017 and the bank will also have to bring the promoters' holding to 40 percent by 2022
Analysts say the holding company discount could exceed 50 per cent considering their shareholding structure