Ujjivan Financial
IPO opens on April 28, 2016
with Price
Band of Rs. 207 – Rs. 210
Price Band: Rs. 207 to Rs. 210 per Equity Share of Face Value of Rs. 10
each
The Floor Price is 20.7 times the Face Value and the
Cap Price is 21 times the Face Value
Bids can be made for a minimum of 70 Equity Shares and
in multiples of 70 Equity Shares thereafter
·
Fresh Issue of Equity Shares aggregating up to Rs. 3,581.61 million**
·
Offer for Sale of up to 24,968,332 Equity Shares by
the Selling Shareholders
·
Bid/Offer Opening Date – April 28, 2016 and Bid/Offer Closing
Date – May 02, 2016
*APPLICATIONS SUPPORTED BY BLOCKED
AMOUNT (ASBA):
Investors have to apply
through the ASBA process. ASBA has to be availed by all the investors except
anchor investors. For details on the ASBA process, please refer to the details
given in the ASBA Form and Abridged Prospectus and also please refer to “Offer
Procedure” on page 239 of the RHP. ASBA Forms can also be downloaded from the
websites of BSE and NSE. ASBA Forms can be obtained from the list of banks that
is available on the website of SEBI at www.sebi.gov.in. ASBA Form can be
obtained from Syndicate, SCSBs, Registered Brokers, RTAs and CDPs, the list of
which is available on the website of SEBI at http://www.sebi.gov.in/sebiweb/home/5/33/0/0/Recognised-Intermediaries.
** THE COMPANY HAS, IN CONSULTATION WITH THE BRLMS,
UNDERTAKEN A PRE-IPO PLACEMENT OF 14,236,057 EQUITY SHARES FOR CASH
CONSIDERATION AGGREGATING TO Rs. 2,918.39 MILLION. THE SIZE OF THE FRESH ISSUE AS
DISCLOSED IN THE DRAFT RED HERRING PROSPECTUS DATED DECEMBER 31, 2015, BEING Rs. 6,500 MILLION, HAS BEEN REDUCED ACCORDINGLY.
Ujjivan Financial Services Ltd. (“UFS” or the “Company”) is a Non Banking Financial Company – Micro Finance Institution
(“NBFC-MFI”) which started
operations in 2005 as a Non Banking Financial Company (“NBFC”). As of December 31, 2015, UFS has served over 2.77 million
active customers across 24 states and union territories through a network of
470 branches and 7,862 employees. The IPO opens on April 28,
2016 and closes on May 02, 2016, with a price band of ` 207 – ` 210 per Equity Share of
face value of ` 10 each. The Anchor
Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer
Opening Date, i.e. April 27, 2016.
The
IPO consists of a fresh issue of Equity Shares aggregating up to ` 3,581.61 million by the Company and an offer for sale
of up to 24,968,332 Equity Shares by Elevar, FMO, IFC, IFIF, MUC, Sarva
Capital, WCP and WWB. The Company, in consultation with the BRLMs, has
completed a Pre-IPO Placement of 14,236,057 Equity Shares for cash
consideration aggregating to ` 2,918.39
million. The size of the Fresh Issue as disclosed in the Draft Red Herring Prospectus
dated December 31, 2015, being ` 6,500 million,
has been reduced accordingly.
The
Offer is being made through the Book Building Process, wherein 50% of the Offer
shall be allocated on a proportionate basis to Qualified Institutional Buyers
(“QIB Portion”). The Company and the
Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of
the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”), at the
Anchor Investor Allocation Price.
At least one-third of the Anchor Investor
Portion shall be reserved for domestic Mutual Funds, subject to valid Bids
being received from domestic Mutual Funds at or above Anchor Investor
Allocation Price.
In the event of under-subscription, or non-allocation of the
Anchor Investor Portion, the balance Equity Shares shall be added to the QIB
Portion. 5% of the Net QIB Portion shall
be available for allocation on a proportionate basis to Mutual Funds only, and
the remainder of the Net QIB Portion shall be available for allocation on a
proportionate basis to all QIB Bidders (other than Anchor Investors), including
Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further,
not less than 15% of the Offer shall be available for allocation on a
proportionate basis to Non-Institutional Bidders and not less than 35% of the
Offer shall be available for allocation to Retail Individual Bidders in
accordance with the SEBI ICDR Regulations, subject to valid Bids being received
at or above the Offer Price. All potential Bidders (except Anchor Investors)
shall participate in the Offer mandatorily through the Applications Supported
by Blocked Amount (“ASBA”) process.
Any
Bidder who, either by himself directly or indirectly or along with the
relatives, or associated enterprises, or persons acting in concert (as
described under section 12B of the Banking Regulation Act) (“Other Persons”)
associated with it, Bids for such number of Equity Shares that (along with the
existing aggregate shareholding in the Company of such Bidder and the Other
Persons associated with such Bidder), results in such Bidder, together with the
Other Persons associated with such Bidder, holding 5% or / more of the post-Offer
paid-up share capital of the Company,
shall obtain a valid and subsisting approval of the RBI to be eligible to
acquire and hold, after considering its existing shareholding if any, in the
Company, together with the
existing
shareholding in the Company, if any, of the Other Persons associated with such
Bidder, 5% or more of the post-Offer paid-up share capital of our Company,
either individually or
on
an aggregate basis with the Other Persons associated with such Bidder, as the
case may be, subject to the subscription level in the Offer.
The
Company proposes to utilise the Net Proceeds of the Fresh Issue for augmenting
its capital base.
Kotak
Mahindra Capital Company Limited, Axis Capital Limited, ICICI Securities
Limited and IIFL Holdings Limited are the BRLMs to the Offer, while Karvy
Computershare Private Limited is the Registrar to the Offer.
The Equity Shares of the Company
are proposed to be listed on the BSE and the NSE.
Disclaimer:
UJJIVAN FINANCIAL SERVICES LIMITED is proposing, subject to applicable statutory and regulatory
requirements, receipt of requisite approvals, market conditions and other considerations,
to make an initial public offering of its equity shares (“Equity Shares”) and has filed
the Red Herring Prospectus dated April 13, 2016 with the Registrar of
Companies, Bangalore, which shall be read along with the Corrigendum dated
April 19, 2016 (together the Red Herring Prospectus and the Corrigendum are
referred to as the “RHP”). The RHP
shall be
available on the website of the SEBI at www.sebi.gov.in, the websites of the
Book Running Lead Managers at www.investmentbank.kotak.com, www.axiscapital.co.in,
www.icicisecurities.com and www.iiflcap.com and the websites of the Stock
Exchanges at
Any potential investor should note that investment in
Equity Shares involves a high degree of risk, for details, potential investors
should refer to the section titled “Risk
Factors” in the Red Herring Prospectus dated April 13, 2016, filed with the
Registrar of Companies, Bangalore. Investors should not refer to the DRHP filed
with SEBI for making any investment decision.
This
announcement has been prepared for publication in India and may not be released
in the United States. The announcement is not an offer to sell or a
solicitation of any offer to buy securities of our Company in the United
States.
The Equity Shares have not been and will not be registered, listed or
otherwise qualified in any other jurisdiction outside India.
It
is to be distinctly understood that the permission given by BSE should not in
any way be deemed or construed that the RHP has been cleared or approved by BSE
nor does it certify the correctness or completeness of any of the contents of
the RHP. The investors are advised to refer to page 221 of the RHP for the full
text of the Disclaimer clause of the BSE.
It
is also to be distinctly understood that the permission given by NSE should not
in any way be deemed or construed that the Offer Document has been cleared or
approved by NSE nor does it certify the correctness or completeness of any of
the contents of the Offer Document. The investors are advised to refer to page
221 of the RHP for the full text of the Disclaimer clause of the NSE.
The Company is having a valid certificate of registration dated March 4, 2016,
issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of
India Act, 1934. However, the Reserve Bank of India does not accept any
responsibility or guarantee about the present position as to the financial
soundness of our Company or for the correctness of any of the statements or
representation made or opinions expressed by our Company and for discharge of
liabilities by our Company.
About – Ujjivan Financial Services Limited:
Ujjivan
Financial Services Limited started its operations as an NBFC in 2005 with the
mission of providing a full range of financial services to the economically
active poor who are not adequately served by financial institutions.
Its business is
primarily based on the joint liability group lending model for providing
collateral free, small ticket-size loans to economically active women and the Company also offers
individual loans for housing related needs and to Micro and Small Enterprises (“MSEs”). UFS is one amongst ten
companies to have received in-principle approval from the RBI for setting up a Small
Finance Bank (SFB). As of December 31, 2015, the Company had operations spread
across 24 states and union territories, and 209 districts across India, making
it a Micro Finance Institution (“MFI”)
with wide geographical reach.
It served over 2.77 million active customers
through 470 branches and 7,862 employees and its Gross AUM stood at `45.89 billion with a portfolio
quality indicator of Gross NPA as a percentage of Net Assets under Management
of 0.15% as of December 31, 2015. For the past five consecutive years, the Company has been consistently
ranked among the top 25 companies to work for in India by the Great Places to
Work® Institute in partnership with the Economic Times.
All capitalized terms used herein and not specifically
defined shall have the same meaning as ascribed to them in the RHP.
For further details
please contact:
Concept Public Relations
Christopher
Charles | 98424 75706 | charles@conceptpr.com
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