The IPO of Ujjivan Small Finance Bank, that received heavy response from retail investors, ends today. The Rs 750 crore IPO opened on Monday at a price band of Rs 36-37 per share. Ujjivan Small Finance Bank will make use of most of its IPO proceeds for inflating its Tier-1 capital base to match its future capital needs.
The lot size of Ujjivan Small Finance Bank IPO is around 400 shares. Investors are allowed to apply for a minimum of 400 shares and in multiples after that. Or it can also be said as the minimum application requirement for retail segment at upper price band of Rs 37 per shares is Rs 14,800.
The limit subscription amount for retail investor is Rs 2 lakh. So investors in the retail category will be able to apply for a maximum of 13 lots.
The preliminary 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 entire issue size of 12,39,58,333 shares, as per data available with the NSE.
On Day 2, Ujjivan Small Finance Bank IPO was subscribed around 5 times. The category defined for qualified institutional buyers (QIBs) was subscribed 85 percent, non-institutional investors 2.46 times and retail individual investors 23.85 times, as per the exchange data.
Ujjivan Small Finance Bank share allotment is expected to be concluded on December 9, 2019 and listing on BSE and NSE is expected to be on December 12, 2019, according to brokerages.
Karvy Computershare Private Limited is the registrar of Ujjivan Small Finance Bank IPO.