The primary market debut of Usha Financial Services, an NBFC, is scheduled for next week. On Thursday, October 24, the public offer of ₹98.45 crore will go on sale. It will end on Monday, October 28. The pricing range for Usha Financial Services’ initial public offering (IPO) is set at ₹160 to ₹168 per share.
Usha Financial Services’ initial public offering (IPO) allotment is expected to be concluded on Tuesday, October 29. The company is expected to float on the NSE SME platform on Thursday, October 31.
For the Usha Financial Services IPO, 800 shares are the minimum lot size. A minimum of ₹134,400 will need to be paid by retail investors in order to subscribe for one lot of the SME IPO. For HNIs, the required minimum investment is ₹268,800, or two lots.
Fund Raise
Through a press release on Thursday, the company disclosed that in September 2024, it collected ₹20 crore by way of private sale of non-convertible debentures (NCDs).
“This successful NCD issuance reflects the trust our investors have in our business model and growth plans. The additional funds will allow us to enhance our service offerings and keep us on track to achieve our 2025 AUM target,” said Geeta Goswami, CEO of Usha Finacial Services. The upcoming IPO will further strengthen its position in the market and support its mission of driving sustainable economic growth, Goswami added.
Since its inception, some 370 investors have contributed more than ₹100 crore to Usha Financial Services. Its goal of having ₹550 crore in assets under management (AUM) by March 2025 is one step closer with this most recent capital infusion. Its AUM was ₹306 crore as of March 2024.
Usha Financial Services is a Delhi-based NBFC with an RBI licence. It provides loan options to individuals, corporations, MSMEs, and other NBFCs.
The registrar of the Usha Financial Services IPO is Skyline Financial Services Private, while the book-running lead managers are Narnolia Financial Services and Unistone Capital.
