Ujjivan Small Finance Bank utilises entire fund of Rs 746 cr raised via IPO

Ujjivan Small Finance Bank (USFB) on Tuesday said it has used the entire Rs 746 crore equity capital that it raised through an IPO in December. "Entire amount has been utilized to meet the future capital requirement of the Bank. There is no amount unspent," USFB said in a regulatory filing.

The lender had raised Rs 745.95 through an initial public offer (IPO) in December 2019. The company said the funds were raised to "augment to the tier-1 capital base to meet future capital requirement of the bank", it said.

USFB stock was trading at Rs 53.50 on the BSE, up 1.61 percent, from the previous close.