Ujjivan Financial Services IPO
Ujjivan Financial Services IPO — date, price band, lot size & details 2016
Ujjivan Financial Services listed on 10 May 2016 at ₹231.9, 10.4% above the ₹210 issue price.
Ujjivan Financial Services is a microfinance company giving collateral free small loans to economically active poor women through joint liability groups, plus loans to small businesses. Its total income was Rs 611.88 crore in FY2015.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 28 Apr 2016
- Close 02 May 2016
- Allotment 06 May 2016
- Refund/credit TBA
- Listing 10 May 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 Apr to 2 May, 2016 |
|---|---|
| Price Band | ₹207 – ₹210 |
| Face Value | ₹10 |
| Lot Size | 70 Shares |
| Issue Size | ₹882.5 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 70 shares at the ₹210 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 70 | ₹14,700 |
| Retail (max) | 13 | 910 | ₹1,91,100 |
| S-HNI (min) | 14 | 980 | ₹2,05,800 |
| S-HNI (max) | 68 | 4,760 | ₹9,99,600 |
| B-HNI (min) | 69 | 4,830 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 233.93 crore in FY2013 to Rs 611.88 crore in FY2015, and was Rs 729.64 crore in nine months to December 2015.
- 02Profit after tax rose from Rs 32.87 crore in FY2013 to Rs 75.79 crore in FY2015, and was Rs 122.31 crore in nine months to December 2015.
- 03Net worth rose from Rs 317.96 crore in FY2013 to Rs 859.00 crore on 31 December 2015.
- 04Rs 344.50 crore of the issue was to augment its capital base.
Risks · 5
- 01Total borrowing was Rs 1,569.05 crore on 31 December 2015.
- 02Collateral free loans to poor borrowers are exposed to local shocks and loan waivers; total assets were Rs 4,753.10 crore.
- 03Microfinance faces state and RBI regulation, and growth from Rs 233.93 crore of income in FY2013 was very fast.
- 04Rs 524.33 crore of the Rs 882.5 crore issue went to selling shareholders.
- 05It has no identifiable promoter, so control rests with institutional shareholders; net worth was Rs 859.00 crore.
Three years of numbers
All figures in ₹ crore, as reported in the Ujjivan Financial Services offer document.
| Metric | 31 Dec 2015 | 31 Mar 2015 | 31 Mar 2014 | 31 Mar 2013 |
|---|---|---|---|---|
| Assets | 4,753.10 | 3,976.26 | 2,078.70 | 1,356.86 |
| Total Income | 729.64 | 611.88 | 357.66 | 233.93 |
| Profit After Tax | 122.31 | 75.79 | 58.42 | 32.87 |
| NET Worth | 859.00 | 736.45 | 372.53 | 317.96 |
| Reserves and Surplus | 772.87 | 650.32 | 306.95 | 252.38 |
| Total Borrowing | 1,569.05 | - | 567.07 | - |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ujjivan Financial Services RHP.
Where the money goes
₹378.16 Cr of the issue is earmarked to named objects.
Ujjivan Financial Services IPO Anchor Investors
54 anchor investors across 17 fund houses committed ₹264.75 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its main model is joint liability group lending, giving collateral free, small ticket loans to economically active poor women.
It also offers individual loans to micro and small enterprises, along with agriculture, education and home loans.
The IPO was Rs 882.5 crore, with Rs 358.16 crore of fresh issue and Rs 524.33 crore of offer for sale, at Rs 210, the top of the Rs 207 to Rs 210 band. The fresh money was to augment its capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ujjivan Financial Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ujjivan Financial Services?
The current Grey Market Premium is ₹0.
What is the Ujjivan Financial Services IPO price band?
₹207 to ₹210, on a face value of ₹10.
When is the allotment?
The basis of allotment is 6 May 2016, with listing on 10 May 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
