Basis of Allotment

This is a pubic announcement for information purposes only and is not a prospectus announcement. This does not constitute an invitation or offer to acquire, purchase or subscribe for securities
Not for publication or distribution, directly or indirectly outside India.
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UJJIVAN SMALL FINANCE BANK LIMITED

The Bank was incorporated as Ujjivan Small Finance Bank Limited on July 4, 2016 at New Delhi as a public limited company under the Companies Act 2013, and was granted the certificate of incorporation by the Registrar of Companies, National Capital Territory of Delhi and Haryana ("RoC"). Our Promoter. Ujjivan Financial Services Limited ("UFSL") was granted the in-principle approval to establish a small finance bank ("SFB"), by the Reserve Bank of India ("RBI") pursuant to its letter dated October 7, 2015. Subsequently, UFSL received the final approval for our Bank to carry on the SFB business in India, pursuant to a letter dated November 11, 2016 issued by the RBI. Our Bank commenced its business with effect from February 1, 2017 and was included in the second schedule to the RBI Act pursuant to a notification dated July 3, 2017 issued by the RBI. For further details, see "History and Certain Corporate Matters" on page 133 of the Prospectus dated December 5, 2019 ("Prspectus")

Registered Office: Plot No. 2364/ 8, Khampur Raya Village, Shadi Kampur, Main Patel Road, New Delhi 110 008, India; Tel: +91 11 3043 2121
Corporate Office: Grape Garden, No. 27, 3rd 'A' Cross, 18th Main, 6th Block, Koramangala, Bengaluru 560 095, Karnataka, India; Tel: +91 80 4071 2121
Website: www.ujjivansfb.in; Contact Person: Chanchal Kumar, Company Secretary and Compliance Officer, E-mail: ipo@ujjivan.com: Corporate Identity Number U65110DL2016PLC302481
OUR PROMOTER: UJJIVAN FINANCIAL SERVICES LIMITED

The Bank has filed the Prospectus dated December 5, 2019 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE" and together with NSE, the "Stock Exchanges"), and trading is expected to commence on or about December 12, 2019.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 202,702,702 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF UJJIVAN SMALL FINANCE BANK LIMITED ("BANK" OR "ISSUER") FOR CASH AT A PRICE OF Rs 37 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 27 PER EQUITY SHARE) AGGREGATING TO Rs 7,459.46 MILLION* ("ISSUE"). THE ISSUE INCLUDES A RESERVATION OF 20,270,270 EQUITY SHARES, AGGREGATING TO Rs 709.46 MILLION, FOR SUBSCRIPTION BY ELIGIBLE UFSL

SHAREHOLDERS ("UFSL SHAREHOLDER RESERVATION PORTION"). THE UFSL SHAREHOLDER RESERVATION PORTION DID NOT EXCEED 10% OF THE ISSUE. THE ISSUE LESS THE UFSL SHAREHOLDER RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE SHALL CONSTITUTE 11.73% AND 10.56%, RESPECTIVELY, OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL OF THE BANK.

THE FACE VALUE OF THE EQUITY SHARES IS Rs 10 EACH. THE ISSUE PRICE IS Rs 37 PER EQUITY SHARE AND IS 3.7 TIMES THE FACE VALUE OF THE EQUITY SHARES.

* The Bank has, in consultation with the BRLMs, undertaken a Pre-IPO placement of 71,428,570 Equity Shares for cash consideration aggregating to Rs 2,500 million.
* A discount of Rs 2 per Equity Share was offered to Eligible UFSL Shareholders Bidding in the UFSL Shareholder Reservation Portion ("UFSL Shareholder Discount").
ISSUE PRICE: Rs 37 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH
ANCHOR INVESTOR ISSUE PRICE: Rs 37 PER EQUITY SHARE
THE ISSUE PRICE IS 3.7 TIMES OF THE FACE VALUE
Risks to Investors:
The three Book Running Lead Managers associated with the Issue have handled 35 public issues in the past three years out of which 10 closed below the issue price on listing date.
The Price/ Earnings ("PE") ratio based on diluted EPS for Fiscal 2019 for the Issuer at the upper end of the Price Band is as high as 30.83 as compared to the average industry peer group PE ratio of 29.64.
The Issue Price at the upper end of the Price Band is Rs 37 per Equity Share.
Weighted Average Return on Net Worth for Fiscal 2017, Fiscal 2018 and Fiscal 2019 is 4.88%.
The Net Asset Value per Equity Share of the Bank as on March 31, 2019 is Rs 12.64 and as on September 30, 2019 is Rs 13.84.
BID/ISSUE PERIOD:
OPENED ON: MONDAY, DECEMBER 2, 2019
CLOSED ON WEDNESDAY DECEMBER 4, 2019
ANCHOR INVESTOR BIDDING DATE: FRIDAY NOVEMBER 29, 2019

The Issue was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Issue was allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion"), our Bank may. in consultation with the BRLMs, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further. 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not more than 15% of the Net Issue was made available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Net Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID (in case of RIBs and Eligible UFSL Shareholders Bidding in the UFSL Shareholder Reservation Portion) if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as applicable. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" on page 332 of the Prospectus.

The Issue received 1,560,440 applications for 20,55,31,09,600 Equity Shares resulting in 101.39534 times subscription as disclosed in Prospectus. The details of the applications received in the Issue from Retail Individual Bidders, Non-lnstitutional Bidders and QIBs are as under (before technical rejections):

SI. no Category No. of Applications applied No. of Equity Shares Shares Reserved as per Prospectus No. of times Subscribed Amount (Rs)
A Retail Individual Bidders 14,92,075 86,02,24,000 1,82,43,243 47.15302 31,81,80,67,035
B Non Institutional Bidders 4,706 13,26,38,12,000 2,73,64,864 484.70228 4,90,76,11,00,600
C Eligible UFSL Shareholders Bidding in the UFSL Shareholder Reservation Portion 63,444 9,44,06,800 2,02,70,270 4.65740 3,32,50,85,200
D Qualified Institutional Bidders (Excluding Anchor Investors) 170 6,23,30,17,600 5,47,29,731 113 88723 2,30,62,16,51,200
E Anchor Investors 45 10,16,49,200 8,20,94,594 1 23820 3,76,10,20,400
  Total 15,60,440 20,55,31,09,600 20,27,02,702 101.39534 7,60,28,69,24,435

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/issue Closing Date at different Bid prices is as under:

Sr. No Bid Price No. of Equity Shares % to Total Cumulative Total % Cumulative Total
1 36 1,58,80,400 0.08 1,58,80,400 0.08
2 37 19,79,52,17,600 96 22 19,81,10,98,000 96 30
3 CUTOFF 76,14,45,600 3.70 20,57,25,43,600 100.00
  TOTAL 20,57,25,43,600 100.00    

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on December 9, 2019.

A. Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs 37 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 45.28640 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 1,82,43,243 Equity Shares to 45,608 successful applicants. The category-wise details of the Basis of Allotment are as under:
Category No. of Applications Received % of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares Allotted
400 12,61,189 87.83 50,44,75,600 61.06 400 35:1102 1,60,22,400
800 79,042 5.50 6,32,33,600 7.65 400 35:1102 10,04,000
1200 29,298 2.04 3,51,57,600 4.26 400 35:1102 3,72,400
1600 12,144 0.85 1,94,30,400 2.35 400 35:1102 1,54,400
2000 11,536 0.80 2,30,72,000 2.79 400 35:1102 1,46,400
2400 5,799 0.40 1,39,17,600 1.68 400 35:1102 73,600
2800 5,159 0.36 1,44,45,200 1.75 400 35:1102 65,600
3200 2,282 0.16 73,02,400 0.88 400 35:1102 28,800
3600 1,135 0.08 40,86,000 0.49 400 36:1135 14,400
4000 4,486 0.31 1,79,44,000 2.17 400 35:1102 56,800
4400 844 0.06 37,13,600 0.45 400 27:844 10,800
4800 1,727 0.12 82,89,600 1.00 400 55:1727 22,000
5200 21,366 1.49 11,11,03,200 13.45 400 35:1102 2,71,600
          1 43:5552 43
TOTAL 14,36,007 100.00 82,61,70,800 100.00     1,82,43,243

Please Note : 1 additional Share shall be allotted to 43 Allottees from amongst 5552 Successful Applicants from the categories 800-5200 (i.e.excluding successful applicants from Category 400) in the ratio of 43:5552.

B. Allotment to Non Institutional Bidders (After Technical Rejections) (including ASBA Applications)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Issue Price of Rs 37 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 473.33419 times. The total number of Equity Shares allotted in this category is 27,364,864 Equity Shares to 1,450 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)
Category No. of Applications Received % of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares Allotted
5600 1169 25.99 65,46,400 0.05 400 35:1169 14,000
6000 292 6 49 17,52,000 0.01 400 9:292 3,600
51351200 1 0.02 5,13,51,200 0.40 108488 1:1 1,08,488
54051200 3 0.07 16,21,53,600 1.25 114192 1:1 3,42,576
54054000 7 0.16 37,83,78,000 2.92 114198 1:1 7,99,386
54200000 5 0.11 27,10,00,000 2.09 114507 1:1 572,535
54400000 2 004 10,88,00,000 0.84 114930 1:1 2,29,860
59459200 1 0 02 5,94,59,200 046 125618 1:1 1,25,618
60300000 1 0.02 6,03,00,000 0.47 127394 1:1 1,27,394
60400000 1 0.02 6,04,00,000 0.47 127605 1:1 1,27,605
60800000 1 002 6,08,00,000 0.47 128450 1:1 1,28,450
60810800 58 1.29 3,52,70,26,400 27 23 128473 1:1 74,51,434
62440000 2 0.04 12,48,80,000 0.96 131916 1:1 2,63,832
64054000 1 0.02 6,40,54,000 0.49 135325 1:1 1,35,325
64736000 1 0.02 6,47,36,000 0.50 136766 1:1 1,36,766
64864800 1 0.02 6,48,64,800 0.50 137038 1:1 1,37,038
65008000 2 0.04 13,00,16,000 1.00 137356 1:1 2,74,712
65400000 1 0.02 6,54,00,000 0.50 138201 1:1 1,38,201
65600000 1 0.02 6,56,00,000 0.51 138623 1:1 1,38,623
65675600 8 0.18 52,54,04,800 4.06 138755 1:1 11,10,040
65878000 1 0 02 6,58,78,000 0.51 139211 1:1 1,39,211
Total 4498 100.00 12,95,27,25,600 100.00     2,73,64,864
C. Allotment to QIBs (After Technical Rejections)
Allotment to QlBs, who have bid at the Issue Price of Rs 37 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 113.88723 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i e 2,736,487 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 51,993,244 Equity Shares on a proportionate basis The total number of Equity Shares allotted in the Net QIB portion is 54,729,731 Equity Shares, which were allotted to 170 successful applicants.
Category Fls/Banks FPIs ICs MFs Others Total
QlB (excluding Anchor Investors) 1,56,55,671 1,41,62,157 29,09,761 56,76,124 1,63,26,018 5,47,29,731
D. Allotment to Anchor Investors
The Bank, in consultation with the BRLMs, have allocated 82,094,594 Equity Shares to 45 Anchor Investors at the Anchor Investor Offer Price of Rs 37 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.
Category Fls/Banks FPIs ICs AIFs MFs Others Total
Anchor Investors - 41,519,200 6,080,400 5,777,200 28,717,794 - 82,094,594
E. UFSL Shareholder Reservation Portion (After Technical Rejections)
The Basis of Allotment to the UFSL Shareholders under UFSL Shareholder Reservation Portion, who have bid at cut-off or at the Issue Price of Rs 37 per Equity Share (less discount of Rs 2), was finalized in consultation with the NSE. This category has been subscribed to the extent of 3.87533 times. The total number of Equity Shares Allotted m UFSL Shareholder category is 20,270,270 Equity Shares to 44,083 successful applicants.
The category-wise details of the Basis of Allotment are as under:
Category No. of Applications Received % of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares Allotted
400 22,409 50.83 89,63,600 11.41 400 1:47 89,63,600
800 5,739 13.02 45,91,200 5 84 417 1:1 23,93,163
          1 17:141 692
1200 2,054 4.66 24,64,800 3.14 435 1:1 8,93,490
1600 985 2.23 15,76,000 2.01 452 1:1 4,45,220
2000 891 2.02 17,82,000 2.27 469 1:1 4,17,879
2400 497 1.13 11,92,800 1 52 487 1:1 2,42,039
2800 705 1.60 19,74,000 251 504 1:1 3,55,320
3200 370 0.84 11,84,000 1.51 521 1:1 1,92,770
3600 174 0.39 6,26,400 0.80 539 1:1 93,786
4000 474 1.08 18,96,000 2.41 556 1:1 2,63,544
4400 181 0.41 7,96,400 1.01 573 1:1 1,03,713
4800 733 1.66 35,18,400 448 590 1:1 4,32,470
5200 4,223 9.58 2,19,59,600 27.95 608 1:1 25,67,584
5600 4,648 10.54 2,60,28,800 33.13 625 1:1 29,05,000
TOTAL 44,083 100.00 7,85,54,000 100.00     2,02,70,270

Please Note: 1 additional Share was allotted to Category 800 In the ratio 17:141

The basis of allotment of Equity Shares was approved by the Designated Stock Exchange, being NSE, and the Stakeholders Relationship Committee of the Bank on December 10, 2019 has allotted the Equity Shares to successful Bidders The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account on December 9, 2019 and the payments to non-syndicate brokers have been issued on December 11, 2019. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below The Equity Shares allotted to the successful allottees have been uploaded on December 10, 2019 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned The Bank is in the process of obtaining the listing and trading approval from BSE and NSE. and trading is expected to commence on or about December 12, 2019.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, KFin Technologies Private Limited at www.karisma.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

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KFin Technologies Private Limited
Karvy Selenium, Tower B, Plot No. 31-32, Gachibowli Financial District, Nanakramguda, Hyderabad 500 032.
Website: www.karisma.karvy.com; Contact Person: Murali Krishna; SEBI Registration No.: INR000000221
Formerly known as Karvy Fintech Private Limited
For UJJIVAN SMALL FINANCE BANK LIMITED
On behalf of the Board of Directors
Place: Bengaluru Sd/-
Date : December 11, 2019 Company Secretary & Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF UJJIVAN SMALL FINANCE BANK LIMITED.

Ujjivan Small Finance Bank Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares ("Equity Shares") and has filed a prospectus ("Prospectus" ) with the Securities and Exchange Board of India and the Registrar of Companies, National Capital Territory of Delhi and Haryana. The Prospectus is available on the website of the SEBI at www.sebi gov in as well as on the websites of the book running lead managers, Kotak Mahindra Capital Company Limited, IIFL Securities Limited and JM Financial Limited, at www.investmentbank kotak.com, www.iiflcap.com and www.jmfl.com respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks. see "Risk Factors" on page 22 of the Prospectus

The Equity Shares have not been and will not be registered under the U S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U S state securities laws Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A and referred to in the Prospectus as "U.S. QIBs" For the avoidance of doubt, the term "U.S QIBs" does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the Prospectus as "QIBs") in transactions exempt from, or not subject to, the registration requirements of the U.S Securities Act. and (II) outside the United States in offshore transactions in reliance on Regulation S and pursuant to the applicable laws of the jurisdictions where those offers and sales are made.