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Ujjivan Small Finance Bank shares drop nearly 7% after stellar debut

A day after making a stellar debut on the bourses, shares of Ujjivan Small Finance Bank on Friday dropped nearly 7 per cent, on profit-booking. The scrip tanked 6.89 per cent to close at Rs 52.05 on the BSE. During the day, it dropped 8.49 per cent to Rs 51.15. On the National Stock Exchange (NSE), it plunged 6 per cent to close at Rs 52.55. In terms of traded volume, 27.97 lakh shares of the company were traded on the BSE and over 4 crore shares on the NSE during the day.

Ujjivan Small Finance Bank on Thursday listed with over 57 per cent gains against the issue price of Rs 37 and finally closed more than 51 per cent higher.

The company's initial public offer (IPO), which was open for subscription during December 2-4, was subscribed over 165 times at a price band of Rs 36-37 per share. Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank.

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Source: IndiaTV News – Business

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