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Ujjivan Small Finance Bank Falls 17% After MD & CEO Resigns

Ujjivan Small Finance Bank Falls 17% After MD & CEO Resigns

Shares of Ujjivan Small Finance Financial institution fell as a lot as 17 per cent to hit recent 52-week low of Rs 20.15 after its managing director and chief govt officer resigned from the financial institution.

“We hereby inform you that the Financial institution has obtained a letter dated August 18, 2021 from Mr. Nitin Chugh (DIN: 01884659) tendering his resignation from the place of Managing Director and CEO of the Financial institution w.e.f. shut of enterprise hours on September 30, 2021,” Ujjivan Small Finance Financial institution mentioned in a inventory trade submitting.

Mr Chugh resigned attributable to private causes.

In the meantime, Ujjivan Small Finance Financial institution has appointed Banavar Anantharamaiah Prabhakar, Ravichandran Venkataraman, Samit Kumar Ghosh and Sudha Suresh as further administrators of the financial institution.

As of 1:17 pm, Ujjivan Small Finance Financial institution shares traded 15.67 per cent decrease at Rs 20.35, underperforming the Sensex which was down 0.58 per cent.

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Initially posted by – www.ndtv.com

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