Trade Nivesh Ujjivan Small Finance Bank has made a strong debut in the stock market. The bank's shares were listed on the stock market on Thursday. The stock was listed at Rs 58 on the BSE. While its issue price was Rs 37 per share. In this way, it was listed at 56.76 percent more than its issue price.
The stock was listed at Rs 58.75 on the NSE. This is 58.78 per cent more than its issue price.
The issue price for the IPO of Ujjivan Small Finance Bank was kept at Rs 36-37. Most brokerage firms had advised to subscribe to the issue of Rs 750 crore. The book value of this stock sits at 2.5 times, which is a good discount compared to its rivals.
The issue was subscribed 166 times. The issue was open for subscription from 2-4 December. This is the highest subscribed IPO this year. It was already expected that Ujjivan's shares would be listed at a tremendous premium.
Analysts believed that apart from attractive valuations, Ujjivan asset quality is also very good. The promoter company has a strong hold in rural India. The chances of its growth are also very high. In such a situation, its attraction is bound to increase. This is the reason why investors showed good interest in its IPO.
Santosh Meena, senior analyst at Trading Bells, said, "Investors from all categories took the issue in hand. Attractive valuations and strong asset quality were the main reasons."
In the last 12 years, out of 34 IPOs that have received more than 50 times subscription, 13 have got listings at a premium of more than 50 per cent. Not a single issue was listed at a discount.
Four issues including Salasar Techno, Astron Paper, Avenue Supermart and IRCTC were listed at a premium of over 100 per cent.
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The stock was listed at Rs 58.75 on the NSE. This is 58.78 per cent more than its issue price.
The issue price for the IPO of Ujjivan Small Finance Bank was kept at Rs 36-37. Most brokerage firms had advised to subscribe to the issue of Rs 750 crore. The book value of this stock sits at 2.5 times, which is a good discount compared to its rivals.
The issue was subscribed 166 times. The issue was open for subscription from 2-4 December. This is the highest subscribed IPO this year. It was already expected that Ujjivan's shares would be listed at a tremendous premium.
Analysts believed that apart from attractive valuations, Ujjivan asset quality is also very good. The promoter company has a strong hold in rural India. The chances of its growth are also very high. In such a situation, its attraction is bound to increase. This is the reason why investors showed good interest in its IPO.
Santosh Meena, senior analyst at Trading Bells, said, "Investors from all categories took the issue in hand. Attractive valuations and strong asset quality were the main reasons."
In the last 12 years, out of 34 IPOs that have received more than 50 times subscription, 13 have got listings at a premium of more than 50 per cent. Not a single issue was listed at a discount.
Four issues including Salasar Techno, Astron Paper, Avenue Supermart and IRCTC were listed at a premium of over 100 per cent.
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Trade Nivesh Twitter
Trade Nivesh Youtube
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