Ujjivan Small Finance Bank approves ₹409 crore preferential issue
In short
Ujjivan Small Finance Bank approved a ₹409 crore preferential issue. The allottees include IFC, Bajaj Life Insurance, Aditya Birla Sun Life Insurance Company and HDFC Life Insurance Company Ltd.
This matters because the bank is raising capital from large institutions. The reporting does not say when the money will come in or how it will be used.
What the reporting says
Ujjivan Small Finance Bank approved a ₹409 crore preferential issue to IFC and three insurers, according to the reported summary. The allottees named are the International Finance Corporation, Bajaj Life Insurance, Aditya Birla Sun Life Insurance Company and HDFC Life Insurance Company Ltd. The reporting does not state the pricing, timing or use of proceeds.
Why it matters
Ujjivan Small Finance Bank has approved a preferential issue worth ₹409 crore, with four named allottees: IFC and three insurers. The available reporting does not give the issue price, share count or capital-use plan. The move is relevant for the bank’s capital base and for the named investors, but the source does not state the final post-issue impact.