Ujjivan Small Finance Bank IPO subscribed 4.86 times on Day 2

The initial public offer of Ujjivan Small Finance Bank was subscribed 4.86 times on the second day of subscription on Tuesday. The Rs 750 crore initial public offer (IPO) received bids for 60,29,84,400 shares against the total issue size of 12,39,58,333 shares, as per data available with the NSE.

The category meant for qualified institutional buyers (QIBs) was subscribed 85 per cent, non institutional investors 2.46 times and retail individual investors 23.85 times, according to the exchange data. Price range for the offer has been fixed at Rs 36-37 per share.

Ujjivan Small Finance Bank mopped up Rs 303.75 crore from anchor investors, according to a statement by the company. The Government of Singapore, Monetary Authority of Singapore, CX Partners Fund, Aberdeen, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, Goldman Sachs India, ICICI Prudential participated in the anchor investor bidding.

Kotak Mahindra Capital Company, JM Financial and IIFL Securities are managing the offer. Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank.