Indian IPO Blog

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    Monday, December 9, 2019

    Ujjivan Small Finance Bank IPO - Basis of Allotment explained

    December 09, 2019 0
    Ujjivan Small Finance Bank IPO - Basis of Allotment explained

    Following is the basis of allotment for Ujjivan Small Finance Bank IPO:


    Explanation of Ujjivan Small Finance Bank Allotment basis

    Ujjivan Small Finance Bank IPO - Basis of Allotment essentially indicates that 400 shares will be allotted on a lottery basis as under :

    • For those who applied between 400 to 3200 or for 4000 or 5200 shares, allotment will be 400 shares in the ratio 35:1102 (Chances of Allotment: 3.17%)
    • For those who applied for 3600 shares, allotment will be 400 shares in the ratio 36:1135 (Chances of Allotment: 3.17%)
    • For those who applied for 4400 shares, allotment will be 400 shares in the ratio 27:844 (Chance sof Allotment: 3.19%)
    • For those who applied for 4800 shares, allotment will be 400 shares in the ratio 55:1727 (Chances of Allotment: 3.18%)
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    Ujjivan Small Finance Bank IPO Allotment status update

    December 09, 2019 0
    Ujjivan Small Finance Bank IPO Allotment status update
    The allotment status for Ujjivan Small Finance Bank IPO has not been declared yet. The IPO Allotment status was expected to be declared today on 9-Dec-2019. However, due to certain reason, the same is not updated yet

    IPO Allotment status can be checked either from the registered website of the registrar to the IPO or can be established by way of :

    (a) Debit to the bank account (indicating a successful allotment) or
    (b) Release of lien marking done at the time of application (indicating no allotment)

    However, none of above is effected as yet and is expected tomorrow. The link for checking IPO allotment status will be updated here as soon as made available on the registrar website. Check back this space for more

    Click here to know about how shares will be allotted in Ujjivan Small Finance Bank IPO

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    SBI Cards IPO - Shareholder quota rules

    December 09, 2019 0
    SBI Cards IPO - Shareholder quota rules
    Bids under the SBI Shareholders Reservation Portion shall be subject to the following:

    General rules for SBI Cards IPO Shareholder quota

    1. SBI Shareholders i.e. individuals and HUFs who are equity shareholders of SBI can only apply. (The sole/ First Bidder shall be a SBI Shareholder)
    2. Only those Bids, which are received at or above the Offer Price, would be considered for allocation under this category. To clarify,
      (a) SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the Net Offer as such Bids will be treated as multiple Bids.
      (b) Bids by SBI Shareholders in SBI Shareholders Reservation Portion (subject to Bid Amount being up to ₹200,000) and in the Employee Reservation Portion (as Eligible Employees), shall not be treated as multiple Bids
      (c) Therefore, SBI Shareholders bidding in the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid under the Net Offer and such Bids will not be treated as multiple Bids
    3. SBI Shareholders bidding in the SBI Shareholders Reservation Portion above ₹200,000 cannot Bid in the retail or employee category.
    4. SBI Shareholders bidding in the SBI Shareholders Reservation Portion (up to ₹200,000) and bidding in the Employee Reservation Portion (as Eligible Employees) can also Bid in the retail category
    5. SBI Shareholders Bidding under the SBI Shareholders Reservation Portion (subject to the Bid Amount being up to ₹200,000) are entitled to Bid at the Cut-off Price.
    Allotment rules for SBI Cards IPO Shareholder quota
    • If the aggregate demand in this category is less than or equal to 13,052,680 Equity Shares at or above the Offer Price, all the applicants will get a full allocation.
    • In case of the IPO being under-subscribed in the SBI Shareholders Reservation Portion, the allocation would be met with shares from other reservation portions.
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    Saudi Aramco exercises over allotment option

    December 09, 2019 0
    Saudi Aramco exercises over allotment option
    The proceeds from Saudi Aramco's record initial public offering have risen to $29.4 billion after the oil company exercised an option to sell 15% more stock, an executive at one of the banks leading the deal told Al Arabiya news channel

    Wassim Al Khatib, head of investment banking at the investment arm of Saudi Arabia's biggest bank, National Commercial Bank , said the state-controlled oil giant had exercised the so-called over-allotment option.

    Aramco sold $25.6 billion of shares at 32 riyals each, the top of the range at which they were marketed, and the company had orders for $119 billion of stock. About 4.9 million individual investors, almost 15 per cent of the kingdom’s population, applied for the shares. Saudi Arabia sold only 1.5 per cent of the company’s capital in the IPO

    “I see further upside to the stock after listing due to the fact that investors will be chasing the stock to complete their exposure, since the deal was oversubscribed,” said Ali El Adou, head of asset management at Daman Investiments in Dubai
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    Sunday, December 8, 2019

    Ujjivan Small Finance Bank IPO Allotment and Listing Dates (Tentative)

    December 08, 2019 0
    Ujjivan Small Finance Bank IPO Allotment and Listing Dates (Tentative)
    Ujjivan Small Finance Bank IPO, the IPO receiving highest number of times oversubscription in the year 2019 closed for subscription on Dec 4

    Given below are tentative dates for Ujjivan Small Finance Bank IPO Allotment and Listing

    Finalisation of Basis of Allotment: Dec 10, 2019
    Initiation of Refunds: Dec 10, 2019
    Credit of Shares to Demat: Dec 11, 2019
    Listing Date: Dec 12, 2019

    Ujjivan Small Finance Bank Limited (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country. USFB Bank is promoted by Ujjivan Financial Services Limited (UFSL) which is an NBFC providing financial services to the economically active poor, who are not served by the Financial Institutions.

    UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.

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    Click here to know about how shares will be allotted in Ujjivan Small Finance Bank IPO
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    Saturday, December 7, 2019

    Karvy Stock broking fraud - 10 things you should be careful about with stock brokers

    December 07, 2019 0
    Karvy Stock broking fraud - 10 things you should be careful about with stock brokers

    Concerned after reading about Karvy Stock Broking fraud? Here are 10 things you should keep in mind and be careful with your stock broker:1. Ensure that pay-out of funds/securities is received in your account within 1 working day from the date of pay-out.

    2. Be careful while executing the PoA (Power of Attorney) - specify all the rights that the stock broker can exercise and timeframe for which PoA is valid. It may be noted that PoA is not a mandatory requirement as per SEBI / Exchanges.

    3. Register for online applications viz Speed-e and Easiest provided by Depositories for online delivery of securities as an alternative to PoA.

    4. Ensure that you receive Contract Notes within 24 hours of your trades and Statement of Account at least once in a quarter from your Stock Broker

    5. Please note that securities provided by you towards margin are not permitted to be pledged by your Stock Broker for raising funds.

    6. If you have opted for running account, please ensure that the stock broker settles your account regularly and in any case not later than 90 days (or 30 days if you have opted for 30 days settlement).

    7. Do not keep funds and securities idle with the Stock Broker.

    8. Regularly login into your account to verify balances and verify the demat statement received from depositories for correctness.

    9. Check messages sent by Exchanges on a monthly basis regarding funds and securities balances reported by the trading member and immediately raise a concern if you notice a discrepancy.

    10. Always keep your contact details viz Mobile number / Email ID updated with the stock broker. You may take up the matter with Stock Broker / Exchange if you are not receiving the messages from Exchange / Depositories regularly.I

    If you observe any discrepancies in your account or settlements, immediately take up the same with your stock broker and if the Stock Broker does not respond, with the Exchange / Depositories

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    Ujjivan Small Finance Bank - the highest subscribed IPO of year 2019

    December 07, 2019 0
    Ujjivan Small Finance Bank - the highest subscribed IPO of year 2019
    The initial public offering of Ujjivan Small Finance Bank was subscribed 166 times on the last day of the share sale

    The IPO overtook Indian Railway Catering And Tourism Corporation Ltd. as the most subscribed IPO in 2019, data on the National Stock Exchange website showed

    The small finance bank, according to its red herring prospectus, aimed to raise nearly Rs 750 crore by issuing new shares of face value Rs 10 each in a price band of Rs 36-37 apiece. The bid lot size was 400 equity shares and multiples thereof.

    Ujjivan Small Finance Bank Limited (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country. USFB Bank is promoted by Ujjivan Financial Services Limited (UFSL) which is an NBFC providing financial services to the economically active poor, who are not served by the Financial Institutions.

    UFSL offers small size loan products to economically poor women, individual loans to Micro and Small Enterprises (MSEs). It follows the integrated lending approach where the company considers technology infrastructure and back-end support functioning before lending.

    USFB has a wide presence across 24 states and union territories in India. As on 30 June 2019, it has 4.72 million customers, 474 Banking Outlets, 387 ATMs, two 24/7 phone banking units (in Bengaluru and Pune) and 50 additionally operated Asset Centres. Customers can use USFB mobile banking application in 5 languages.

    The bank has a diversified portfolio offering savings, current & deposit accounts, Aadhaar enrolment services, ATM-cum-debit cards, point of sales terminals, and distributing 3rd party insurance products. USFB is focussed on digital platform and provides bill payments, SMS banking, mobile banking, RuPay Platinum debit cards, internet banking, biometric ATMs services digitally. The bank also allows registering savings account on UPI based mobile applications. It has an automated tablet-based loan origination system, digitalised credit processing and automated receipt collection system to reduce the turn around time of customers.
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