Ujjivan SFB board approves raising upto Rs 1,500 cr

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Ujjivan Small Finance Bank (Ujjivan SFB) said that its board has approved the proposal to raise upto Rs 1,500 crore through non-convertible debt securities.

The board of Ujjivan Small Finance Bank on Wednesday approved the proposal for raising funds by way of issuing non-convertible debt securities upto Rs 1,500 crore on a private placement basis, in one or more tranches, within a period of 1 year from the date of seeking shareholders' approval.

The bank will seek shareholders' approval for the same through a postal ballot process.

Ujjivan Small Finance Bank is a mass market focused bank in India, catering to financially unserved and underserved segments. It reported 7.3% fall in standalone net profit to Rs 126.52 crore despite a 25.8% rise in total income to Rs 920.80 crore in Q4 FY22 over Q4 FY21.

Shares of Ujjivan Small Finance Bank slipped 2.10% to Rs 16.35 on the BSE.

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