The stock debuted at Rs 58, a premium of 56.75% to the IPO price. So far the stock hit a high of Rs 62.80 and low of Rs 53.10. On BSE, so far 1.07 crore shares were traded on the counter.

The IPO of Ujjivan Small Finance Bank received bids for 2053.80 crore shares as against 12.39 crore shares on offer, as per the National Stock Exchange of India (NSE) data. The issue was subscribed 165.68 times.

The issue opened for bidding on 2 December 2019 and closed on 4 December 2019. The price band was fixed at Rs 36 to Rs 37 per share.

The bank proposes to utilize the net proceeds from the issue towards augmenting tier – 1 capital base to meet future capital requirements. Further, there will be the benefits of listing of the equity shares on the stock exchanges, enhancement of the brand name and creation of a public market for equity shares in India.

The bank reported a net profit of Rs 187.11 crore on a net interest income of Rs 740.42 crore for the six months ended on 30 September 2019.

Ujjivan Small Finance Bank commenced operations on 1 February 2017. It is a mass market focused small finance bank (SFB) in India, catering to unserved and underserved segments.

The bank is promoted by Ujjivan Financial Services (UFSL) - an NBFC which began operations in 2005.

In terms of the RBI in-principle approval, RBI final approval and SFB (small finance bank) licensing guidelines, the bank is required to list its equity shares on the stock exchanges within three years from the date of commencement of business by the bank, i.e., 31 January 2020.

Ujjivan Small Finance Bank is spread across 24 states and union territories end March 2019. The bank has strong 4.94 million customers base operated from 552 Banking Outlets end September 2019. In FY2019 alone, the bank has operationalized 287 banking outlets. The bank has a network of 441 ATMs (including 18 ACRs), two 24/7 phone banking units based in Bengaluru and Pune that service customers in 11 languages, and a mobile banking application that is accessible in five languages as well as internet banking facility for individual and corporate customers.