India: IPO-bound Ujjivan SFB seeks more time to reduce promoter shareholding

India: IPO-bound Ujjivan SFB seeks more time to reduce promoter shareholding

Samit Ghosh, founder and managing director, Ujjivan Financial Services. Photo: Mint

Ujjivan Small Finance Bank, which is set to launch its initial public offering (IPO) next week, is seeking an extension from the Reserve Bank of India to bring down its promoter shareholding, bank officials said. The bank will start discussions with the regulator once the listing is over.

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