Ujjivan shares soar 10 pc on debut trade

Shares of microfinance player Ujjivan Financial Services today made a strong debut at the bourses, surging over 10 per cent compared to the issue price of Rs 210.
The stock opened on a strong note at Rs 227, reflecting a gain of 8 per cent.
Later, it zoomed 16.19 per cent to touch a high of Rs 244 before ending at Rs 231.60, showing gains of 10.29 per cent on BSE.
At NSE, shares of the company jumped 10.26 per cent to close at Rs 231.55.
The company's market valuation stands at Rs 2,738.47 crore.
On the volume front, 96.83 lakh shares of the company changed hands at BSE and over 4 crore shares were traded on NSE during the day.

The Rs 885-crore IPO of Ujjivan Financial Services was oversubscribed nearly 41 times earlier this month.

Ujjivan's issue comprised fresh issuance of shares worth Rs 358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders.
Price band for the offer was fixed at Rs 207-210 and was open for subscription during 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. Another microfinance firm Equitas Holdings came out with its IPO last month.
This is also the third microfinance firm to go public.

The issue was managed by Kotak Mahindra Capital Company, Axis Capital, ICICI Securities and IIFL Holdings.
The Reserve Bank yesterday said the aggregate ceiling for foreign investors to invest in Ujjivan Financial Services will remain at 49 per cent.
Shares of Equitas Holdings had also made a blockbuster debut at the bourses last month.
The smart debut by Ujjivan came a day after diagnostics company Thyrocare Technologies made a splendid debut at bourses, notching up nearly 39 per cent gains at the close over the issue price of Rs 446.