Foreign investment limit in Ujjivan down to 47 per cent

The limit for foreign investments in Ujjivan Financial Services has been reduced to 47 per cent from the earlier 49 per cent. The company’s board had agreed to lower the limit for the purchase of its shares and convertible debentures by FIIs, registered foreign portfolio investors (RFPIs), qualified foreign investors (QFIs) and others.

Ujjivan Small Finance Bank (SFB), a wholly owned subsidiary of Ujjivan Financial Services opened five branches in Delhi.

It had begun small finance bank services in February with the opening of five branches in Bengaluru. As per the company, its approximately 200 branches of parent company will be converted into small banks by FY18 and the remaining in the next two years. Ujjivan Financial Services has 457 branches in the country.

The stock price of Ujjivan Financial Services increased 1.17 per cent in early trade, and is trading at Rs 406.15 on an intraday basis. However, its  stock price declined 2.65 per cent in last one month.