India: Ujjivan Financial Services raises $43m in pre-IPO round

Visual from Ujjivan website

Ujjivan Financial Services Ltd, the micro-lender which has won a provisional licence to convert itself to a small finance bank, has raised over Rs.300 crore from a clutch of investors in a private placement round ahead of its planned initial public offering (IPO). The funding values the firm at around Rs.2,150 crore, according to data from the firm’s filings with the registrar of companies on Tuesday.

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