Edelweiss has a positive business outlook on Ujjivan Small Finance Bank (USFB) but said the listing of USFB will mean dilution & holding company discount for the existing shareholder
Shares of Ujjivan Financial Services fell nearly 8 percent intraday on August 19 after the company's decision to launch IPO of Ujjivan Small Finance Bank. Analysts feel the listing of the bank is negative for shareholders of a microfinance lender
The stock was quoting at Rs 272.55, down Rs 11.55, or 4.07 percent on the BSE.
Ujjivan Small Finance Bank is planning an initial public offering to raise Rs 1,200 crore. The company on August 16 filed a draft red herring prospectus with SEBI.
"Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of the face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore," Ujjivan Financial Services said in its BSE filing on August 16.
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