Usha Financial Services IPO GMP: Gray market premium (GMP) for Usha Financial Services IPO increased from $18 to $40 after the company revealed its price band. The IPO of SMEs, with the aim of raising $98.45 crore, will open for subscription on October 24 and close on October 28. The price band is set at $160 to $168 per share, with a lot size of 800 shares.
Founded in 1955 in Patparganj, Delhi, Usha Financial Services operates as a non-banking financial company (NBFC). The company offers financial solutions to other NBFCs, MSMEs and individuals, with special focus on supporting women entrepreneurs and electric vehicle financing. In FY24, his net worth stood at $10,602.63 crore, compared to $8,207.38 crore in FY23.
Usha Financial Services IPO Breakdown
He IPO It will be entirely a fresh issue of 58.6 lakh shares. Retail investors can bid for a minimum of 800 shares, which requires an investment of $1,34,400. High Net Worth Individuals (HNI) are required to subscribe to at least two lots (1600 shares), which requires an investment of $2,68,800.
Skyline Financial Services is acting as registrar for the IPO, with Narnolia Financial Services and Unistone Capital as lead managers. SS Corporate Securities will be the market maker.
Stock allotment is scheduled for October 29 and redemptions are likely to occur before October 30. The shares will be credited to the investors’ demat accounts on the same day. IPO expected to list JAN SME Platform on October 31.
Key details include a face value of $10 per share and a total issue size of 58.6 lakh shares. Investors using UPI must confirm their payment mandates by 5 pm on October 28 to ensure successful participation.
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