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Ujjivan Small Finance Bank raises Rs.475-Cr through QIP

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Ujjivan Small Finance Bank closed its qualified institutional placement (QIP), having raised INR 475 crore by issuing over 22.6 crore shares. The issue was launched on 12 September. The shares were issued at an issue price of INR 21 apiece. The bank allotted 22,61,90,476 equity shares at INR 10 each to qualified institutional buyers at the issue price of INR 21 per share. The issue price reflects a discount of 4.24% to the floor price of INR 21.93 per share. The issue generated significant interest from quality long-term investors like ICICI Prudential Life Insurance, Max Life Insurance, Aditya Birla Sunlife Mutual Fund, HDFC Life and Bajaj Allianz Life.