Ujjivan Small Finance Bank IPO: Allotment status, listing date and other details

New Delhi: Ujjivan Small Finance Bank (USFB) IPO, which concluded last week got a stellar response from investors and was subscribed a whopping 165.66 times, surpassing the IRCTC IPO, which was the biggest hit so far this year. Given the strong response to the IPO, investors are waiting to know if they are lucky enough to get allotment in the IPO. Analysts believe Ujjivan Small Finance Bank shares are likely to make a blockbuster debut on exchanges like IRCTC as it has good fundamentals and was issued at a cheaper valuation compared to its peers.

At the upper end of the price band, USFB is valued at 2.8x its Q2FY2020 book value (pre-IPO) and on post dilution basis at 2.3x, said Angel Broking. This looks cheaper compared to its bigger rival AU Small Finance Bank, which is currently trading at a P/B of 6.8.

The basis of allotment of Ujjivan Small Finance Bank shares is likely to be finalised today and refunds will start from Tuesday (December 10). Successful investors will get the shares credited into their demat accounts on December 11 by end of the day. The proposed date of listing of Ujjivan Small Finance Bank shares is December 12 (Thursday).

Before the allotment of shares is done, the basis of allotment needs to be approved by the designated stock exchange. The registrar of the issue will finalise the basis of allotment and submit it to the designated stock exchange for approval. In the case of USFB, Karvy Computershare Private Limited is the registrar. Once the allotment is finalised, applicants can check their allotment status on Karvy Fintech website using their application number or PAN or DPID/client

So far as allotment to retail invests is concerned, it is likely to be done on the basis of a lottery. The registrar tries to allot at least one lot to every retail applicant. If the number of retail applications is still more than that then successful allottees are finalised based on a lottery. Worth mentioning here is that the retail segment of the IPO was subscribed 111 times.