Ujjivan Small Finance Bank (USFB) has mopped up Rs 303.75 crore from anchor investors ahead of its initial public offering (IPO), which starts on December 2.
USFB, which is looking to raise Rs 750 crore to augment its tier-1 capital, has fixed a price band of Rs 36-37 per share for the IPO.
According to a regulatory filing, USFB has finalised the allocation of 8,20,94,594 shares at Rs 37 apiece to 18 anchor investors. Based on the price, the total proceeds would work out to Rs 303.75 crore.
The government of Singapore, the 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 have participated in anchor investor bidding.
The proposed issue of USFB comprises fresh issue of equity shares, aggregating up to Rs 750 crore and a portion of the issue, aggregating up to Rs 75 crore, has been made available for the eligible UFSL shareholders, on a proportionate basis.
The shareholders of Ujjivan Financial Services will get shares at a discount of Rs 2 per share to the final issue price.
Ujjivan Financial Services, the promoter of Ujjivan Small Finance Bank, had commenced operations as an NBFC in 2005.
