The initial public offering (IPO) of Ujjivan Small Finance Bank, the subsidiary of microfinance lender Ujjivan Financial Services Ltd, saw a massive subscription of 165.6 times. The issue saw the highest subscription among all IPOs since January 2018, receiving bids for around Rs 76,000 crore worth of shares against an IPO size of Rs 750 crore. If you are one of those who had put in a bid, it’s time to check whether you have been allotted shares or not.
According to reports, the allotment of shares for Ujjivan Small Finance Bank IPO has already begun and might be concluded soon. Since Karvy Fintech Pvt. Ltd was the registrar of the issue, subscribers can visit its website and check the allotment status there.
For checking the status, subscribers would have to keep their application number, DP ID/Client ID and PAN handy. Just fill in the required details in the respective fields and you would know whether you have been allotted any shares.
In case of Ujjivan Small Finance Bank IPO, since the oversubscription was huge, share allotment would happen by lucky draw, in line with pre-determined rules of the Securities and Exchange Board of India (Sebi). Also, in such cases, no retail investor is allotted more than one lot, regardless of the number of lots they have bid for. This is to ensure that maximum investors can be allotted IPO shares. The draw is a completely automated and computerized process, leaving no room for manipulation. To recall, the retail individual investors category for the was Ujjivan Small Finance Bank IPO was subscribed by a huge 50.16 times.
The Ujjivan Small Finance Bank stock is likely to list on 12 December on both BSE and National Stock Exchange of India (NSE). The issue, which was open from 2 December to 4 December, was priced in the range of Rs 36-37 per share, while the lot size was fixed at 400 shares.
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Source: News18