The IPO from Ujjivan Financial Services Limited (Ujjivan) received excellent support from all sections and was oversubscribed over 40 times. The company is in the business of micro finance and has been granted a license from RBI for conversion into a small finance bank. The company had made a simultaneous issue to raise fresh capital to the extent of Rs 358.16 crs and a secondary sale of 2.49 cr shares. The company had allotted 1.26 cr shares to 17 anchor investors comprising of 54 entities.

The issue has received overwhelming support and was subscribed 40.68 times. If compared with the recently launched and now listed Equitas Holdings which is from the same microfinance space, the subscription is more than double. Of course the size of the two issues is different and the level of confidence has risen sharply post the successful listing of Equitas. The success of both these companies has done wonders to the stock market and opened up avenues for some of the players who have been granted SFB license to tap the capital markets.