Market has keen eye, as Budget session reconvenes in Parliament

Apr 25 2016 12:32 PM
Market has keen eye, as Budget session reconvenes in Parliament

Monday, The second part of the Budget session of Parliament is on going. And the session is likely to discuss the Uttarakhand crisis. But somehow, the market is keenly watching policy decisions by the US Federal Reserve and the Bank of Japan this week, while microlender Ujjivan Financial Services comes out with its initial public offer on 28 April.

Ujjivan chief financial officer Sudha Suresh said, “Microfinance player Ujjivan Financial Services will open itsRs.885-crore initial public offer (IPO) on 28 April and has fixed the price band at Rs.207-210 per share. Ujjivan, which will become the second microlender to go public, is a recipient of an in-principle approval to set up a small finance bank”.

The IPO, begining on 28 April and closing on 2 May, involves fresh issuance of shares worth Rs.358 crore by the company and a Rs.527 crore offer-for-sale by its overseas investors who are exiting or paring their stakes in the company, she added.

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