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Ujjivan Small Finance Bank utilises entire fund of Rs 746 crore raised via IPO

The lender had raised Rs 745.95 through an initial public offer (IPO) in December 2019.

PTI|
Last Updated: Feb 04, 2020, 03.46 PM IST
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USFB stock was trading at Rs 53.50 on the BSE, up 1.61 per cent, from the previous close.
Ujjivan Small Finance Bank (USFB) on Tuesday said it has used the entire Rs 746 crore equity capital that it raised through an IPO in December. "Entire amount has been utilised to meet the future capital requirement of the Bank. There is no amount unspent," USFB said in a regulatory filing.

The lender had raised Rs 745.95 through an initial public offer (IPO) in December 2019.

The company said the funds were raised to "augment to tier-1 capital base to meet future capital requirement of the bank", it said.

USFB stock closed at Rs 53.90 on the BSE, up 2.37 per cent, from the previous close.

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