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Ujjivan SFB raises Rs 304 crore from anchor investors ahead of IPO

Singapore govt, CX Partners are key anchor investors

Abhijit Lele  |  Mumbai 

IPO market

Private sector lender Small Finance Bank (USFB) has mopped up Rs 303.75 crore from ahead of its initial public offering (IPO), which starts on December 2.

The banks want to raise Rs 750 crore to bolster its Tier-I capital. It has fixed a band of Rs 36-37 per share for the

The allocation of 82.1 million shares at Rs 37 apiece to 18 has been finalised, the bank said in a statement on Saturday.

The Government of Singapore, the Monetary Authority of Singapore, CX Partners Fund, Aberdeen, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, Goldman Sachs India, and ICICI Prudential participated in the bidding.

The bank caters to the unbanked urban poor and young middle class customers.

The portion of the issue, aggregating up to Rs 75 crore, has been made available for the eligible Financial Services (UFSL) shareholders, on a proportionate basis. The shareholders of Financial Services will get shares at a discount of Rs 2 per share to the final issue price.

UFSL, the promoter of Ujjivan Small Finance Bank, had commenced operations as a non-banking financial company in 2005.

First Published: Sat, November 30 2019. 18:26 IST