Ujjivan Financial Services shares made robust debut on bourses on Tuesday and listed at Rs 227 on BSE, up 8.09 per cent against the issue price of Rs 210. This is the third microfinance firm to go public.
On the National Stock Exchange, shares of the company listed at a premium of 10.42 per cent at Rs 231.90.
The Rs 885-crore IPO of Ujjivan Financial Services was oversubscribed nearly 41 times earlier this month. Ujjivan’s issue comprised fresh issuance of shares worth Rs 358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders.
Price band for the offer was fixed at Rs 207-210 and was open for subscription from April 28-May 2.
The issue was managed by Kotak Mahindra Capital Company, Axis Capital, ICICI Securities and IIFL Holdings.
Later, shares of Ujjivan Financial Services settled at Rs 231.60 on BSE on Tuesday.