Ujjivan Small Finance Bank Ltd (SFB), a unit of lender Ujjivan Financial Services Ltd, is seeking Rs 6,394.42 crore ($895.6 million at current exchange rate) in valuation from an initial public offering (IPO) starting next week.
This is larger than the Rs 5,290 crore ($736 million) value it derived from a pre-IPO funding almost two weeks ago led by funds of IIFL and Avendus Capital, as well as Akash Bhanshali of Enam. The firm had raised Rs 250 crore ($35 million) then with the round resulting in a 4.75% stake dilution
Ujjivan SFB has set a price band of Rs 36-37 per share for its IPO that opens on 2 December, with the anchor book opening one day prior.
The IPO will close on 4 December, the company said on Wednesday.
The Rs 750-crore public offering is an entirely fresh sale of shares. At the upper end of the price band, the company will issue and add new 202.7 million shares to its share capital structure.
The IPO will result in roughly 11.73% stake dilution.
To be updated...