Ujjivan Small Finance Bank (SFB) is planning to seek shareholders' approval to raise up to Rs 600 crore as equity capital by issuing shares to qualified institutional buyers in order to meet the regulatory requirements for amalgamation with its parent company.
Earlier, Bank had received approval to raise Rs 600 crore including premium through Qualified Institutional Placement (QIP), face value of Rs 10 each. The board of directors of the bank, in its meeting held on February 05, 2022 has considered and approved the same.
Ujjivan Small Finance Bank (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country.
