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NEW DELHI : The IPO of Ujjivan Small Finance Bank will open on December 2 and the price band has been fixed at 36-37 a share. The proposed issue of Ujjivan Small Finance Bank comprises of a fresh issue of equity shares aggregating up to 750 crore and a portion of the issue aggregating up to 75 crore has been made available for the eligible Ujjivan Financial Services shareholders, on a proportionate basis.

Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank. After the IPO, Ujjivan Small Finance Bank will join listed peers like AU Small Finance Bank.

Details of Ujjivan Small Finance Bank IPO

Opening Date - December 02

Issue Closing Date - December 04,2019

Price Band - 36 to 37

Ujjivan Financial Services Shareholder Discount - A discount of 2 per Equity Share on the Issue Price

Lot size: Minimum 400 equity shares and in multiples of 400 shares thereafter

Ujjivan Small Finance Bank had earlier this month raised 250 crore in a pre-initial public offering (IPO) round led by India Infoline (IIFL) group’s funds, a private equity fund of Avendus Capital and Akash Bhanshali of Enam Group.

As of 30 June, the bank served 4.72 million customers. Its products include loans to its micro banking customers that include group loans and individual loans, agriculture and allied loans, SME loans, affordable housing loans, financial institutions group loans, personal loans and vehicle loans.

Ujjivan’s gross loan advances have grown from 6,383.9 crore as of 31 March 2017 to 11,048.5 crore as of 31 March 2019. Deposits have increased from 206.4 crore to 7,379.4 crore in the same period.

The bank’s parent Ujjivan Financial Services Ltd went public in 2016, after receiving an in-principle licence from the Reserve Bank of India to start a small finance bank. The RBI later asked Equitas Holdings Ltd and Ujjivan Financial Services to list their small finance bank units to comply with its norms, which mandate that a small finance bank with a net worth of more than 500 crore must be listed within three years of the launch of operations.

The 410 crore IPO of Kerala-based CSB Bank, formerly known as Catholic Syrian Bank, had closed on Tuesday, with subscription of about 87 times.

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