Ittira Davis nurses Ujjivan SFB back to health. Now he must find his replacement

To protect the turnaround of the last few years and have a shot at a universal banking licence, the small finance bank needs to quickly find a successor to its current chief who retires in under a year.

In a couple of days from now, Ujjivan Small Finance Bank’s reverse merger with its promoter—Ujjivan Financial Services Ltd— is set to get the all-clear. 

That would be a tailwind for the small finance bank’s shares—up 103% in the last one year—as it would bring down the promoter holding to zero from a little over 73% currently. The resultant increase in free float would trigger a rerating that is expected to boost the stock, already the pick of the SFB lot—the next best performers are Equitas Small Finance Bank and Jana Small Finance Bank, which have grown by 45% and …

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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furquan@mailtmc.com

Delhi