Shares of Ujjivan Small Finance Bank fell a staggering 17 percent, reaching a new 52-week low of Rs 20.15 after its chief executive and chief executive officer resigned from the bank.
“We hereby inform you that the Bank has received a letter dated 18 August 2021 from Mr Nitin Chugh (DIN: 01884659) in which he tenders his resignation from the position of Managing Director and CEO of the Bank after closing business hours on 30 September , 2021,” said Ujjivan Small Finance Bank in a scholarship application.
Mr Chugh has resigned for personal reasons.
Meanwhile, Ujjivan Small Finance Bank has appointed Banavar Anantharamaiah Prabhakar, Ravichandran Venkataraman, Samit Kumar Ghosh and Sudha Suresh as additional directors of the bank.
At 1:17 p.m., shares of Ujjivan Small Finance Bank were down 15.67 percent against Rs 20.35, underperforming the Sensex, which fell 0.58 percent.
