Mumbai: Ujjivan Small Finance Bank's Rs 750- crore initial public offering received overwhelming response from investors as the IPO got subscribed more than 165.66 times on the last day of bidding on Wednesday, as per information given by the stock exchanges.
The Rs 645- crore IPO by state-run IRCTC was overall subscribed 111.92 times earlier in October and CSB Bank’s Rs 410-crore IPO was subscribed 87 times.
As per last information from sources close to the merchant bankers, the Ujjivan Small Finance Bank had been subscribed 170.24 times with the qualified institutional buyers category subscription at 113.80 times, non-institutional or high net-worth category subscription at 486.14 times, retail individual investor category subscription at 50.16 times and shareholder reservation category subscription at 4.23 times.
Earlier on November 29, the bank had mopped up Rs 303.75 crore from 18 anchor investors, including 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 and ICICI Prudential.
Ujjivan Small Finance Bank is a mass market focused bank promoted by Ujjivan Financial Services. The bank has a presence in 24 states and caters to financially unserved and underserved segments with the aim of building financial inclusion in the country.
Shares of Ujjivan Financial Services closed 4.07 per cent up at Rs 349.25 on the BSE.
