Ujjivan SFB signs subscription pact with IFC for about Rs 249 Cr preferential issue
UJJIVANSFB · price
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On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 3.0 pts less than its Other Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ujjivan Small Finance Bank has signed a subscription agreement with International Finance Corporation (IFC) for a preferential issue of up to 3.84 crore equity shares at Rs 64.73 each, totalling about Rs 249 crores. IFC already holds 3.18 percent in the bank. The issue is subject to shareholder and exchange approvals. A separate policy agreement covers compliance with IFC standards.
Capital infusion from a marquee global institutional investor signals confidence. No change in management control. Will result in equity dilution for existing shareholders.