Ujjivan Small Finance Bank files Rs 1,200 cr IPO papers

Ujjivan Small Finance Bank is planning an initial public offering to raise Rs 1,200 crore. The company on August 16 filed a draft red herring prospectus with SEBI.

“Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore,” Ujjivan Financial Services said in its BSE filing.

The price band for public issue may be determined by bank in consultation with the book running lead managers to the issue, it added.

The bank has appointed Kotak Mahindra Capital Company, IIFL Securities and JM Financial as book running lead managers to the issue.

Ujjivan Small Finance Bank’s public issue includes a reservation of equity shares aggregating up to around Rs 120 crore for subscription by eligible Ujjivan Financial shareholders.

The issue is subject to receipt of requisite regulatory approvals, market conditions and other considerations, it added.

Shares of Ujjivan Financial Services closed at Rs 284.10, up Rs 1.25, or 0.44 percent on the BSE.

[“source=moneycontrol”]

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