Ujjivan Small Finance Bank’s initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 165.64 times.
The Rs 750-crore initial public offering (IPO) received bids for 2,053 crore shares against the total issue size of 12.39 crore shares, as per the data available with the NSE.
The category reserved for qualified institutional buyers (QIBs) was subscribed 113.80 times, that for non institutional investors was subscribed 486.14 times, while retail individual investors category was subscribed 50.16 times, according to merchant banking sources.
With a strong subscription, Ujjivan Small Finance Bank went past IRCTC to become the most subscribed IPO so far this year.
The IPO of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 111.91 times in October.
Ujjivan Small Finance Bank’s IPO was subscribed 4.86 times on the second day of subscription on Tuesday.
The price range for the offer was fixed at Rs 36-37 per share.
Ujjivan Small Finance Bank mopped up Rs 303.75 crore from anchor investors, according to a statement by the company.
The Government of Singapore, Monetary Authority of Singapore, CX Partners Fund, Aberdeen, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Sundaram Mutual Fund, Goldman Sachs India, ICICI Prudential participated in anchor investor bidding.
Kotak Mahindra Capital Company, JM Financial and IIFL Securities are managing the offer.
Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank.