Microlender Ujjivan Eyes $375M Valuation in IPO

Monday, April 25, 2016

Bengaluru-based microfinance firm Ujjivan Financial Services Ltd is seeking a valuation of as much as Rs 2,500 crore ($375 million) in an initial public offering that opens on April 28.

The company has priced the issue, which closes on May 2, in a band of Rs 207-210 per share. The company aims to raise Rs 358 crore by selling fresh shares while the offer for sale from overseas investors, who are exiting or paring their stakes in the company, will be worth about Rs 527 crore.

The offer for sale will include share sales from investors including Elevar Equity, International Finance Corporation, Sarva Capital and Women’s World Banking Capital Partners.

Ujjivan filed its draft papers with the Securities and Exchange Board of India in January and the capital markets regulator’s approval last month.

Source: VCCircle (link opens in a new window)