On Thursday, Ujjivan Small Finance Bank completed a qualifying institutional placement, raising Rs 475 crore through issuing more than 22.6 crore shares.

Small Finance Bank (SFB) has issued 22,61,90,476 shares at an issue price of Rs 21 each. The Qualified Institutional Placement (QIP) sale begins on September 12. A meeting of the board’s merger and placement committee approved closing the offering period for the case on September 15, the company said in a regulatory filing.

The deadline for the offering was approved at a September 15 meeting of the board’s merger and placement committee, it said in a regulatory filing. Shares of Ujjivan SFB were down 0.59% at Rs 25.25 per share on the BSE.