Ujjivan Small Finance Bank rises nearly 60 per cent on debut

Mumbai: Ujjivan Small Finance Bank (USFB), which caters to the unbanked urban poor and young middle class customers, on Thursday delivered windfall gains to its new shareholders who subscribed to the initial public offering by the company.

USFB listed at Rs 58.75 on the NSE, against its issue price of Rs 37, a premium of 58.78 per cent, it made a high and a low of Rs 62.8 and Rs 53.05 respectively and closed at Rs 55.95. The stock made a high of Rs 62.8 and a low of Rs 53.1 on the BSE after listing at Rs 58 and closed at Rs 55.90 up 51.08 per cent. After the close of the trading on the first day, USFB’s market capitalisation stood at Rs 9,660.77 crore.

Nitin Chugh, MD and CEO of USFB speaking after the listing of USFB shares, said,“We thank the investors for expressing their confidence in us. We also stand firmly in our resolve to serve the unserved and underserved segments of the middle class in India.”