Usha Financial Services IPO Sees 6.83x Subscription on Closing Day at 12:06 PM

The Usha Financial Services IPO, one of the upcoming IPOs, opened for subscription on October 24, 2024, and will close today, October 28, 2024. The allotment for this IPO is anticipated to be finalised on Tuesday, October 29, 2024. The tentative listing date is Thursday, October 31, 2024, and the shares will be listed on the NSE SME.

This IPO is a book-built issue totalling ₹98.45 crores, consisting entirely of a fresh issue of 58.6 lakh shares. The price band for the Usha Financial Services IPO is set at ₹160 to ₹168 per share, with a minimum application lot size of 800 shares. Retail investors need to invest a minimum of ₹1,34,400.

The company intends to use the issue proceeds to augment the capital base, for general corporate purposes and to meet the issue expenses.

Usha Financial Services IPO Subscription Status

• On October 24, 2024, Day 1, Usha Financial Services IPO was subscribed 1.36 times overall, with the retail category seeing a subscription of 1.25 times, QIB at 1.07 times, and NII at 2.02 times. 

• On Day 2, October 25, 2024, Usha Financial Services IPO was subscribed 3.37 times where the retail category was subscribed 4.72 times, QIB was 1.07 times, and NII was 3.26 times. 
• On Day 3, October 28, 2024, as of 12:06 PM, Usha Financial Services IPO was subscribed 6.83 times where the retail category was subscribed 10.28 times, QIB was 1.07 times, and NII was 6.45 times. 

About Usha Financial Services Limited

Usha Financial Services Limited is a non-banking finance company (NBFC) established in 1995 and registered with the Reserve Bank of India as a non-deposit-taking, non-systemically important NBFC-ICC (Investment & Credit). With over 9 years of lending experience, the company provides financial solutions to other NBFCs, corporates, MSMEs, and individuals, particularly focusing on women entrepreneurs. Additionally, Usha Financial Services offers financing options for electric vehicles (EVs) and a diverse range of financial products tailored to individuals, body corporates, NBFCs, and MSMEs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.