Ujjivan Financial Services Ltd had earlier announced about the filing of the red herring prospectus dated November 22, 2019 ("RHP") of its subsidiary 'Ujjivan Small Finance Bank Limited' (hereinafter referred to as 'USFB') in connection with its proposed initial public offering ("Issue" or "IPO") of equity shares and announcement of Issue period, price band and discount to Eligible UFSL Shareholders.
The subsidiary has completed the pre-IPO placement by way of issue and allotment of 71,428,570 equity shares of USFB of Rs. 10 each ("Equity Shares") at a price of Rs. 35 each (including a premium of Rs. 25 per equity share) thereby raising an amount on 2,499,999,950.
USFB has filed the RHP with the Registrar of Companies, Registrar of Companies, National Capital Territory of Delhi and Haryana ("ROC") on November 22, 2019 and that the same has been taken on record by the ROC on November 26, 2019.
The proposed Issue of USFB comprises of a fresh issue of Equity Shares aggregating up to Rs. 7,500 million and a portion of the issue, aggregating up to Rs. 750 million has been made available for the Eligible UFSL Shareholders, on a proportionate basis. For this purpose, individuals and HUFs who are the public equity shareholders of UFSL as on the date of the RHP i.e., November 22, 2019 (excluding such persons who are not eligible to invest in the Issue under applicable laws or are otherwise unable to make any such investment strictly in accordance with the terms of, and restrictions specified in, the RHP) are the "Eligible UFSL Shareholders".
The issue schedule is:
Bid/Issue Opening Date - Monday, December 02,2019
Bid/Issue Closing Date - Wednesday, December 04,2019
Price Band - Rs. 36 to Rs. 37
UFSL Shareholder Discount - A discount of Rs. 2 per Equity Share on the Issue Price.
Shares of Ujjivan Financial Services Ltd was last trading in BSE at Rs.308.8 as compared to the previous close of Rs. 304.55. The total number of shares traded during the day was 163448 in over 2704 trades.
The stock hit an intraday high of Rs. 315.2 and intraday low of 302. The net turnover during the day was Rs. 50759359.