Saturday, February 20, 2016

IPO NEWS : UJJIVAN FINANCIAL SERVICES ALLOTS SHARES @ RS 205 A PIECE

Micro finance lender  Ujjivan Financial Services Ltd has raised over Rs.300 crore from a clutch of investors in a private placement round ahead of its IPO. 

The company has raised Rs.312 crore from almost 33 domestic investors including mutual funds, insurance firms, family offices and HNIs.

The domestic institutions, who participated in the fund raise include insurance firms such as HDFC Standard Life Insurance Co. Ltd, Shriram Life Insurance Co. Ltd, Bajaj Allianz General Insurance Co. Ltd, Kotak Mahindra Old Mutual Life Insurance Co. Ltd and mutual fund Sundaram Asset Management Co. Ltd.

Shares were allocated to investors at Rs.205 apiece, resulting in a price-to-book value multiple of 2.1 times.

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