Ujjivan Small Finance Bank Limited (USFB) which had tapped the capital markets with its primary issue of Rs 750 crs received excellent response and was subscribed 170 times. Earlier the company had completed allocation to anchor investors. The company allotted 8,20,94,594 equity shares to 18 anchor investors comprising of 33 entities. The highest allocation was made to CX Partners Fund 2 Limited who was allotted 1,17,90,000 equity shares or 14.36% of the anchor allocation.

The price band was Rs 35-37 and there was a reservation of Rs 75 crs for shareholders of the holding company, Ujjivan Financial Services Limited. Shareholders of the holding company applying in the shareholders reservation portion would get a discount of Rs 2 per share.

The issue saw QIB’s subscribing the issue 113.80 times, HNI’s 486.14 times, Retail investors 50.46 times and shareholder portion subscribed 4.26 times. The overall issue was subscribed 170.29 times. The issue received 16,47,003 applications and was subscribed 36.1 times on basis of lots.

The cost of funding for the leveraged HNI was Rs 27.60 to Rs 29.32, based on the interest or funding rate of 8-8.5%. The premium is slightly lower than the cost of funding and would have to adjust to that by the time the share lists.

The issue opens on Monday the 2nd of December and closes on Wednesday the 4th of December 2019.

The full details of the subscription are given below: –

CSB Bank Limited shares listed on the BSE and NSE and had a stellar performance gaining 53.90% on BSE and 53.97% on NSE. The company had tapped the capital markets with its simultaneous issue and received overwhelming support being subscribed 86.93 times. The fresh issue was for Rs 24 crs and the offer for sale for 1,97,78,298 equity shares. The price band was Rs 193-195. The issue was open from Friday the 22nd of November and closed on Tuesday the 26th of November.

The issue was subscribed 62.18 times by QIB’s, 164.68 times by HNI’s and 44.53 times by Retail investors, making a total subscription of 86.93 times. There were 10 lac applications and on the basis of number of forms, the issue was subscribed in retail by 35.70 times.

Earlier the company had allotted 94,54,080 shares to 13 anchor investors comprising of 24 entities at Rs 195. Five mutual funds have been allotted 31,54,125 shares in 16 schemes.

The discovered price on both the exchanges was Rs 275. The high of the day was Rs 307 on BSE and Rs 306.80 on NSE. The open itself was the low of the day on both exchanges. The close of the day was Rs 300.10, a gain of Rs 105.10 or 53.90% on the BSE. The close of the day on NSE was Rs 300.55, a gain of Rs 105.55 or 53.97%.

The traded volume was 40.27 lac shares on BSE and 371.24 lac shares on NSE. The combined volume was 411.54 lac shares which was 1.96 times the IPO size of 2.1 cr shares. Considering the non-anchor portion only the traded volume was 3.56 times the IPO size. Delivery volume was 115.74 lac shares which was 28.13% of the traded volume. It was 55.09% of the IPO size and an unbelievable 100.17 times of the non-anchor portion. This means that everyone who was allotted shares in the IPO has effectively sold shares and even then, delivery marked exceeds shares available. This should logically result in an auction on Friday when the pay in of trades happens.

The weighted average of the days was Rs 295.07 on BSE and Rs 295.22 on NSE. The share has closed comfortably above this level indicating no selling pressure in the last hour. The share has had a great debut and all categories of investors have made money.