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Only 10% of the shares on offer were reserved for retail investors, against the usual 35%
Established in 2017, the Ujjivan Financial Services-controlled Small Finance Bank offers small finance to underserved and unserved segments in India.
Ability to diversify is well demonstrated; its effectiveness may take a while to reflect on numbers
The lender commenced operations in February 2017 and the bank will also have to bring the promoters' holding to 40 percent by 2022
The company, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the IPO.
The bank's IPO will remain open between November 22 and 26, while allotment would be made on December 2, 2019. The shares would be listed on, both, the NSE and BSE on December 4.
The retail portion of the planned deal had received 10 billion riyals, it also said.
Besides concerns of the market's capacity, firms are sceptical of how public market investors, lured by steady profits and dividends, will value internet businesses
Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE and NSE.
Building early momentum is important in large equity offerings, as investors are encouraged to jump in when they see other institutions rushing to buy shares.
This IPO is mainly to meet the regulatory requirement. RBI had asked the Bank to list on the bourses by September but this was delayed due to procedural issues
The banks will be paid 35 basis points of the money raised, according to the three sources
The company's board has authorised the management to evaluate any such scheme in this regard, Forbes & Company said in a regulatory filing.
The leading managers for the issue are Axis Capital and IIFL Securities
Saudi Aramco said it would sell 1.5 percent of the company in a blockbuster initial public offering worth between $24 billion and $25.6 billion
The IPO is part of the government's ambitious disinvestment programme that targets raising Rs 1.05 trillion via this route in financial year 2019-20
Of 85 IPOs to hit the market between FY17 and FY19, 58 ended at a premium to their offer prices
Markets regulator Sebi had received draft red herring prospectus for the proposed IPO on February 8
The Aramco listing is expected to be a major topic at a major investment summit that opened Tuesday in Riyadh
Details of the offering could change as the deliberations are ongoing