Ujjivan SFB Executes Subscription & Policy Agreements with IFC
Ujjivan Small Finance Bank Ltd. has executed a subscription agreement and a policy agreement with the International Finance Corporation (IFC). The subscription agreement is for the preferential issue of up to 3,84,73,561 equity shares to IFC at ₹64.73 per share, aggregating up to approximately ₹249.04 Crores. This issuance is subject to shareholder and regulatory approvals. The policy agreement requires the bank to comply with certain customary provisions set by IFC, including environmental, social, and anti-corruption policies. IFC, an existing shareholder holding 3.18% of the bank's equity, will invest in the preferential issue. The transaction is not expected to impact the management or control of the bank and is not considered a related party transaction.
Key Highlights
- Ujjivan SFB to issue equity shares worth ~₹249.04 Cr to IFC via preferential allotment.
- IFC to invest at ₹64.73 per share, increasing its stake.
- Policy agreement mandates compliance with IFC's environmental and social standards.
- Transaction subject to shareholder and regulatory approvals.
- No impact on management or control of the bank.
Price Impact
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