Ujjivan Small Finance Bank IPO subscribed 170 times

MUMBAI: The IPO of Ujjivan Small Finance Bank (SFB), which closed on Wednesday, was subscribed 170 times, making it the most successful IPO in 2019 in terms of times of subscription. Compared to its IPO offer size of Rs 442 crore (excluding anchor investor allocation), the total demand or Ujjivan SFB shares was a little over Rs 75,000 crore.
The retail investors’ portion was subscribed 50 times, the non-institutional investors’ portion 486 times, while the institutional investors’ portion was subscribed 114 times.The part reserved for the shareholders of its holding company was subscribed a little over 4 times.
The total number of applications was about 16.3 lakh.
The bank caters to the unbanked urban poor and young middle-class customers, a release from its merchant bankers said.
The aggregate size of the Ujjivan SFB was Rs 750 crore. Shares worth Rs 75 crore was offered to its main promoter, Ujjivan Financial Services while anchor investors had mopped up shares worth Rs 304 crore just a day before the IPO opened on December 2.
Kotak Mahindra Capital Company, IIFL Securities and JM Financial managed the issue.