Ujjivan Financial Services IPO : Microfinance Company’s IPO Date Issue Price Details
Microfinance Company, Ujjivan Financial Services Ltd is opening its IPO - Initial Public Offering on 28 April 2016. Ujjivan Financial Services Ltd is an Indian microfinance services company based on the joint liability group lending model for providing collateral free, small ticket-size loans to economically active poor women. They also offer individual loans to Micro & Small Enterprises.
Up to 35 per cent of the Rs 880 crore issue (at upper end of the price band) is reserved for retail investors. Many brokerages have recommended 'subscribe' rating to the Ujjivan issue, saying the IPO valuation looks reasonable and the company has the potential to deliver strong growth and return on assets even after its conversion into a small finance bank.
Ujjivan IPO Details:
Issue Open- 28 Apr to 2nd May 2016
Issue Size- 42,270,760 Equity shares
Face Value- 10 Rs
Issue Price- Rs 207 - 210 per Equity share
Min. Quantity- 70 shares and in multiples
Listing- BSE, NSE
Ujjivan IPO Issue will comprise 4,20,23,618 equity shares with a face value of Rs 10 each. This includes fresh issue of 1,70,55,286 equity shares and an OFS of 2,49,68,332 equity. Bidding will be made in a lot of 70 equity shares and in multiples thereof.
The IPO will close on 2nd May 2016. The company has no presence in Andhra Pradesh and Telangana.
Ujjivan Microfinance offers group loans and individual loan including agricultural, education, home, home purchase and livestock loans. Ujjivan also offers Life Insurance, in association with Baja Allianz Life Insurance, Kotak Mahindra Life Insurance, and HDFC Life Insurance Company Ltd.
Ujjivan Financial operations is spread across 24 states and union territories, and 209 districts across India. serve over 2.77 million active customers through our 469 branches and 7,786 employees.