Day: 28 April 2016

Ujjivan Financial Services is a microfinance company with small finance bank license, and is ready to hit the market with its initial public offering (IPO) on 28th April 2016. Issue Details IPO Open : 28th April 2016 to 2nd May 2016 Issue Price band: Rs 207 - 210 per share Issue Size - Rs 875 - 882 crore Market lot : 70 shares and in multiples of 70 shares Background: Ujjivan Financial Services, which will become the second micro-lender to go public, has already received in-principle approval to set up a small finance bank. Ujjivan is fourth largest among the country's micro finance institutions (MFIs) in terms of assets under management (AUM). Its market share was 7% as on March 2015, Equitas being close at 5%, shows data from CRISIL Research. It commenced its operation in 2005...