TTM Price to Book of 2.8 (IPO Price), it is valued below its peers. With the regulatory hiccups out of the way, the management can focus on growth of the core business. We expect the company to grow NII & Profitability at a CAGR of 25% over the next 3 years, with well managed NPAs. We expect ROA & ROE to reach 2% & 15% respectively over the next 3 years.Given all the growth prospects, we are bullish on Ujjivan SFB & We recommend a subscribe for the IPO.