 "Ujjivan Financial Services lists at 10% premium to issue price")
Ujjivan Financial Services listed at Rs 232, a 10% premium against its issue price of Rs 210 per share on the National Stock Exchange (NSE).
On BSE (Bombay Stock Exchange), the stock opened at Rs 227, 8% higher compared to its issue price. It touched a high of Rs 230 and low of Rs 217 on the BSE so far.
At 10:02 AM, the stock was trading at Rs 229 on the BSE. A combined 10.87 million shares changed hands on the counter on both the exchanges so far.
The microfinance company witnessed robust demand for it’s recently—concluded initial public offer (IPO). The company raised Rs 885 crore via IPO, which was oversubscribed nearly 41 times. The price band for the offer was fixed at Rs 207-210 and was open for subscription from April 28-May 2.
The company, which has already received in-principle nod to set up a small finance bank, is the second microfinance firm to go public this fiscal.
Meanwhile, Reserve Bank of India on Monday said the aggregate ceiling for foreign investors to invest in Ujjivan Financial Services will remain at 49%.
The Reserve Bank has further advised that the aggregate limit for non-resident Indians investment shall not exceed 10%, RBI said in a notification.
On BSE (Bombay Stock Exchange), the stock opened at Rs 227, 8% higher compared to its issue price. It touched a high of Rs 230 and low of Rs 217 on the BSE so far.
At 10:02 AM, the stock was trading at Rs 229 on the BSE. A combined 10.87 million shares changed hands on the counter on both the exchanges so far.
The microfinance company witnessed robust demand for it’s recently—concluded initial public offer (IPO). The company raised Rs 885 crore via IPO, which was oversubscribed nearly 41 times. The price band for the offer was fixed at Rs 207-210 and was open for subscription from April 28-May 2.
The company, which has already received in-principle nod to set up a small finance bank, is the second microfinance firm to go public this fiscal.
Meanwhile, Reserve Bank of India on Monday said the aggregate ceiling for foreign investors to invest in Ujjivan Financial Services will remain at 49%.
The Reserve Bank has further advised that the aggregate limit for non-resident Indians investment shall not exceed 10%, RBI said in a notification.
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