Ujjivan Financial services IPO - Subscribed 3.99 times by retail investors
Neerja Agarwal / 02 May 2016
The IPO received tremendous response across all category of investors.
Ujjivan IPO was open for subscription from April 28th to May 2nd in the price band of Rs207-210. We had recommended investors to subscribe for the stock on the back of strong management, market leadership position, future growth potential and its structural fit to embrace the Small Finance Bank (SFB) structure comfortably.
The IPO closed today and has received tremendous response across the categories of subscribers. The issue in the higher band was subscribed 34.33 times by the institutions, 136.25 times by the non-institutional investors and 3.99 times by the retail investors. The number of applications received by the company was approximately 6.65 lakhs.
The response for the IPO was very encouraging in particularly by the non-institutional investors. With the issue being over-subscribed, we look forward that the investors will be able to cash on the listing gains.
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