Ujjivan Small Finance Bank542904Preferential allotment

Board approves preferential issue of up to 6,31,91,619 shares for ~Rs. 409.04 crore to four allottees

Board met on October 16, 2026 (11:00 A.M., items approved at 12:30 P.M.) and approved a preferential issue of up to 6,31,91,619 equity shares of face value Rs. 10 each at Rs. 64.73 per share, including premium of Rs. 54.73.

By ScoutQuest · Fri 16 Oct 2026, 12:39 PM IST · 3 min read

3.18%IFC shareholding the preferential issue

IFC shareholding the preferential issue: 3.18%.

Preferential Issue Size: up to 6,31,91,619 equity shares for consideration aggregating up to ~Rs. 409.04 crore
Issue Price: Rs. 64.73 per share (face value Rs. 10, premium of Rs. 54.73)
Allottees / EGM Date: IFC, Bajaj Life Insurance, Aditya Birla Sun Life Insurance, HDFC Life Insurance; EGM on November 13, 2026

What was approved

The Board of Directors, at its meeting held on October 16, 2026 (commenced at 11:00 A.M., agenda items approved at 12:30 P.M.), approved a preferential issue of equity shares on a private placement basis to four investors, along with the execution of a subscription agreement and a policy agreement with International Finance Corporation (IFC). The preferential issue is subject to the approval of the members of the Bank.

The issue terms

Up to 6,31,91,619 equity shares of face value Rs. 10 each.
Issue price of Rs. 64.73 per equity share, including a premium of Rs. 54.73 per equity share.
Consideration aggregating up to approximately Rs. 409.04 Crores, for cash.
The relevant date for determining the minimum price for the preferential allotment is October 14, 2026, being the day 30 days prior to the date of the Extra Ordinary General Meeting.

Who is subscribing, and how much

International Finance Corporation: up to 3,84,73,561 equity shares, maximum subscription amount 2,49,03,93,603.53.
Bajaj Life Insurance Limited: up to 92,69,272 equity shares, maximum subscription amount 59,99,99,976.56.
Aditya Birla Sun Life Insurance Company Limited: up to 77,24,393 equity shares, maximum subscription amount 49,99,99,958.89.
HDFC Life Insurance Company Limited: up to 77,24,393 equity shares, maximum subscription amount 49,99,99,958.89.
Total: up to 6,31,91,619 equity shares, 4,09,03,93,497.87.

All the proposed allottees are 'qualified institutional buyer' as defined under Regulation 2(1)(ss) of the SEBI ICDR Regulations.

Shareholding before and after

Before the preferential issue, IFC held 6,21,32,650 equity shares of Rs. 10 each, a shareholding of 3.18% in the Bank; Bajaj Life Insurance held 49,25,000 shares (0.25%); Aditya Birla Sun Life Insurance and HDFC Life Insurance held nil. After the preferential issue, IFC's maximum holding would be 10,06,06,211 shares (4.99%), Bajaj Life Insurance 1,41,94,272 shares (0.70%), and Aditya Birla Sun Life Insurance and HDFC Life Insurance 77,24,393 shares each (0.38% each).

The two agreements with IFC

The subscription agreement is for the preferential issue of equity shares by the Bank to IFC, which is an existing shareholder. Its consummation is subject to the satisfaction of customary conditions precedent, including receipt of shareholders' approval and in-principle approval from BSE Limited and National Stock Exchange of India Limited. The agreement includes customary indemnification obligations of the Bank. The policy agreement will remain in effect until IFC remains a shareholder in the Bank. Under it, the Bank has agreed to comply with certain policy reporting and compliance requirements and covenants, including in relation to sanctionable practices, environmental and social covenants, insurance, anti-corruption, anti-harassment and child protection policies and compliance with UN Security Council Resolutions. For both agreements the Bank states that the parties are not related to any promoter or promoter group, that the Bank does not have any promoters, and that the transaction would not fall within related party transactions.

What happens next

The Extra Ordinary General Meeting of the shareholders is scheduled to be held on November 13, 2026, at which the preferential issue is to be considered. The EGM notice, as approved by the Board, will be issued to the shareholders and submitted to the exchanges in due course.

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