Deal Street

May 12, 2016

Ujjivan Financial Services closes IPO of Equity shares worth Rs. 8824.96 million


Luthra & Luthra Law Offices (L&L) advised Kotak Mahindra Capital Company, Axis Capital, ICICI Securities and IIFL Holdings, in recently concluded Initial Public Offering (IPO) of equity shares of Ujjivan Financial Services Limited, a giant microfinance institution in India and among the 10 Indian entities to receive in-principle approval from the RBI to set up a Small Finance Bank.

The financial details of the deal is valued at Rs. 8824.96 million and the issue consisted of a fresh issuance of equity shares by the Company and an offer for sale of equity shares by existing private equity investors - Elevar, IFC, IFIF, MUC, FMO, Sarva Capital, Wolfensohn and Women’s World Bank.

On May 2, 2016, issue was closed, being subscribed nearly 41 times and the equity shares were listed on May 10, 2016.

Luthra & Luthra Law Offices team comprised Partners Manan Lahoty & Geeta Dhania, Senior Associate Aashima Johur and Associates Abhyuday Bhotika, Anshu Bansal & Sanjana Tikkoo.

In the issue, Cyril Amarchand Mangaldas acted as legal counsel to the company and AZB & Partners acted as legal counsel to the selling shareholders.

Related Post

latest News

  • Legal Entity Identifier Code for participation in non-derivative markets: RBI

    The Reserve Bank of India (RBI) recently issued a Press Release to all eligible market participants regarding the use of Legal Entity Identifier (LEI)...

    Read More
  • Odisha opposition parties reprove paddy procurement delay

    The opposition parties of the BJP and the Congress in Odisha disapproved of the delay in the procurement of paddy and thus causing hardships for the f...

    Read More
  • Budget 2019: Know Your Customer Norms To Be Eased For Foreign Portfolio Investors, Says FM Nirmala Sitharaman

    Union Finance Minister Nirmala Sitharaman has stated that Know Your Customer (KYC) norms would be eased for Foreign Portfolio Investors (FPIs), while ...

    Read More