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Ujjivan may consider listing Small Finance Bank through a scheme of arrangement

Updated : November 06, 2018 06:40:02 IST

Financial services company Ujjivan is likely to consider listing Small Finance Bank via a scheme of arrangement, wherein they would issue shares in the bank to existing shareholders, said sources familiar with the matter.

However, the company is yet to take a decision on the timeline, sources privy to the matter told CNBC-TV18.

Moreover, about 60 percent of the bank’s holding will issue to the existing shareholders in a proportionate manger.

According to the Reserve bank of India (RBI) license conditions, Ujjivan Small Finance Bank has to list itself by January 31, 2020. It also has to bring down the promoter holding in the bank to 40 percent by January 2022.

The management of the company told CNBC-TV18 that they haven’t thought of any specific direction in terms of bringing down the holding or listing the bank.
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