Ujjivan Small Finance Bank Raises Rs 304 Crore From Anchor Investors

Ahead of its initial public offering (IPO), Ujjivan Small Finance Bank raised Rs 303.75 crore in anchor allotment. The small finance bank has finalised allocation of 8,20,94,594 shares at Rs 37 per share, which is also the upper limit of its IPO's price band.

Government of Singapore, CX Partners Fund 2, Goldman Sachs India, Aberdeen Standard Asian Smaller Companies Fund, HDFC Life Insurance, Sundaram Mutual Fund and Bajaj Allianz Life Insurance were among the key anchor investors.

A total of six mutual funds through 33 schemes bade for the anchor portion which includes schemes of ICICI Prudential, Sundaram MF, BNP Paribas, UTI, AB Sun Life and Edelweiss AMC.

Ujjivan Small Finance Bank's IPO opens on 2 December to raise Rs 750 crore. The price band has been fixed at Rs 36-37 a share.

Kotak Mahindra Capital Company, IIFL Securities and JM Financial have been appointed as book-running lead managers to the issue.