Share News: Bank will raise Rs 2000 crore, stock rises by more than 4%

News Topical, Digital Desk : Ujjivan Small Finance Bank (Ujjivan SFB) is planning to raise around Rs 2000 crore in the coming 18-24 months. The bank will raise this amount through Qualified Institutional Placement (QIP) to strengthen its long term growth strategy. Meanwhile, the bank is awaiting the decision of the Reserve Bank of India (RBI) on its application for universal banking license. The bank's MD and CEO Sanjeev Nautiyal said that RBI has sought questions and clarifications on this application several times and it is expected that a decision may come by December.

The bank has set several big targets for the financial year 2030. These include tripling the liabilities, taking the CASA ratio to 35 percent, increasing the gross loan book to Rs 1 lakh crore, opening 500 new branches and bringing the cost-to-income ratio to 55 percent. Apart from this, the bank aims to keep the operating expense below 5 percent of the average assets. Share performance The company's stock is trading at Rs 44.06 with a gain of 3.45 percent on Monday. In the last one year, the company's stock has seen a gain of 3.43 percent. 

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