Ujjivan Small Finance Bank makes strong debut, jumps 57 pc

NEW DELHI, Dec 12:The scrip of Ujjivan Small Finance Bank made a strong debut on stock exchanges on Thursday, listing with a premium of over 57 per cent against its issue price of Rs 37.

On the BSE, the scrip opened at Rs 58, a 57 per cent premium against its issue price of Rs 37 per share.

On the NSE, it got listed at Rs 58.75.

The company’s market valuation stood at Rs 9,315.12 crore during early trade.

The initial public offer (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.

Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank. (PTI)