Ujjivan Small Finance Bank IPO - Might not be as good as the previous listing but this one has an alternative as well
Ujjivan Financial Services (UJJIVAN IN) plans to list its small finance bank, Ujjivan Small Finance Bank (USFB). USFB aims to raise around US$105m of new capital through the issue. Post the commencement of operations of the SFB, Ujjivan transferred most of its assets and operations to the SFB. It's now being made to list the SFB to comply with the regulatory requirements of listing the SFB within three years of operations, i.e. on or before the end of Jan 2020.I had earlier covered Ujjivan's IPO in 2016, Ujjivan Financial IPO - Morphing into a Bank Gives It a License to Mint Money While Doing Some Good, at which time the SFB was about to be setup. I have also covered the background of this listing in Ujjivan Small Finance Bank Pre-IPO - Shouldn’t Be Forced to List.
In this insight, I'll touch upon the dynamics of the deal and run the deal through our IPO framework.
Ujjivan Financial Services Limited, formerly Ujjivan Financial Services Private Limited, is a non-banking finance company engaged in the micro finance lending business. The Company's products and services include Microfinance, Micro and Small Enterprise Business (MSE) Finance, Agriculture and Animal Husbandry Finance, and Housing Finance. Its products are classified under two categories: Group Loans and Individual Loans. Its products are further sub-divided into agricultural, education, home improvement, home purchase and livestock loans. MSE and Housing loans are both secured and unsecured loan products, which are available for both existing and open market customers. It serves economically poor in urban and semi urban areas. Through its partnership with Bajaj Allianz Life Insurance Company, it offers life insurance to its customers and their spouses. It operates through approximately 470 branches spread over 20 states in approximately four regions: South, East, North and West.
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