₹475 crore raises by Ujjivan Small Finance Bank through QIP

What Is QIP ?

The SEBI originally used the term "qualified institutional placement" (QIP) to refer to a securities offering.

On Thursday, Ujjivan Small Finance Bank closed its qualified institutional placement (QIP), raising $475 million by issuing more than 22.6 crore shares.

The distribution of 22,61,90,476 equity shares with a face value of $10 each was approved by the bank's board of directors.

The issuance price represents a 4.24% discount to the floor price of 21.93 rupees per share, amounting around 475.00 crore.

The bank's paid-up equity share capital has now reached 19,54,50,46,810.

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