Markets

Ujjivan Small Finance Bank makes strong debut, jumps 57%

On the BSE, Ujjivan’s scrip opened at ₹58, a 57% premium against its issue price of ₹37 per share. | File

On the BSE, Ujjivan’s scrip opened at ₹58, a 57% premium against its issue price of ₹37 per share. | File   | Photo Credit: Paul Noronha

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

The scrip of Ujjivan Small Finance Bank made a strong debut on stock exchanges on Thursday, listing with a premium of over 57% against its issue price of ₹37.

On the BSE, the scrip opened at ₹58, a 57% premium against its issue price of ₹37 per share. On the NSE, it got listed at ₹58.75.

The company’s market valuation stood at ₹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 ₹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.

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Printable version | Jan 20, 2020 6:41:44 PM | https://www.thehindu.com/business/markets/ujjivan-small-finance-bank-makes-strong-debut-jumps-57/article30284312.ece

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