Ujjivan Small Finance Bank to make stock market debut on Thursday

Ujjivan Small Finance Bank, which recently concluded its Rs 750-crore initial public offering, will make the stock market debut on Thursday. The shares will be listed on the BSE and the National Stock Exchange (NSE), the microfinance lender said.

The IPO, which was open for subscription During December 2-4, was subscribed more than 165 times at a price band of Rs 36-37 per share. The category meant for qualified institutional buyers (QIBs) was subscribed 111 times, non-institutional investors (NIIs) category witnessed a subscription of 473 times, while the same for retail investors stood at over 49 times.

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