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How has the Ujjivan Small Finance Bank subscription numbers been like on the first day of its IPO?

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8 months ago

The issue of Ujjivan Small Finance Bank (SFB) got fully subscribed on the first day itself. The IPO of Ujjivan Small Finance Bank (USFB) saw tremendous interest from retail investors, which is hardly surprising considering that it is a low priced issue at around Rs.37 per share. This kind of pricing is generally very attractive to the retail investors. The IPO received bids for 20.14 crore shares against the issue size of 12.39 crore shares making it an oversubscription of 1.62 times.

The break-up of the oversubscription is a lot more interesting. The qualified institutional buyers (QIBs) portion was tepid ion the first day and was subscribed 23% only. But that is understandable because most of the institutional subscriptions come in only on the last day of the IPO. Non-institutional investors subscribed to the extent of 43% of their allotted quota of 15% of the issue size. However, as stated earlier, the real oversubscription came from the retail category getting oversubscription to the tune of 8.61 times.

The IPO is expected to get heavily oversubscribed by the close on all the categories. The recent IPO of Catholic and Syrian Bank was also extremely well received.