On November 27, Ujjivan Small Finance Bank has decided to float its initial public offering (IPO) on 2nd December 2019. The firm has fixed the price band INR 36-37 per share after consultation with merchant bankers.

Through the IPO, the company is planning to raise INR 750 crore. The company has already got the go-ahead signal in October from SEBI (The Securities & Exchange Board of India).

The IPO will open on 2nd December & close on 4th December. The eligible shareholders will get a discount of INR 2 per share to the fixed issue price.

The company said the fund raised through the fresh issue will be utilized towards its Tier-1 capital base to fulfill future requirements and issue expenses.

Kotak Mahindra Capital Company, JM Financial, IIFL Securities are the book running lead managers while Karvy Fintech Private Limited is a registrar to this issue.