The Utkarsh Small Finance Bank IPO commenced on July 12, 2023, and concluded on July 14, 2023. The allotment of shares took place on July 19, 2023, and the initiation of refunds began on July 20, 2023. The shares were credited to the demat accounts of investors on July 21, 2023. Finally, the listing of Utkarsh Small Finance Bank on the stock exchange occurred on July 24, 2023.
The Utkarsh Small Finance Bank IPO was priced at ₹23 to ₹25 per share, with a lot size of 600. The total issue size was ₹500 crores, comprising a fresh issue of ₹500 crores. The IPO was listed on both the NSE and BSE.
In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 75% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 10% of the shares.
Utkarsh Small Finance Bank IPO GMP Today:
|Date||GMP||Listing Gain||Kostak||Subject to|
|18 July 2023||₹16||64.00%||–||–|
|17 July 2023||₹16||64.00%||–||–|
|16 July 2023||₹16||64.00%||–||–|
|15 July 2023||₹16||64.00%||–||–|
|14 July 2023||₹16||64.00%||–||–|
|13 July 2023||₹17||68.00%||–||–|
|12 July 2023||₹16||64.00%||–||–|
Established in 2016, Utkarsh Small Finance Bank Limited is an Indian Small Finance Bank (SFB) that achieved the second highest growth in Assets Under Management (AUM) among SFBs with over Rs. 50 billion in AUM during Fiscal 2019 and Fiscal 2022.
The bank provides a range of financial solutions to individuals and businesses to meet their diverse needs.
Utkarsh SFB offers the following services:
- Accounts and Deposits
- Insurance and Investments
- Ways to Bank
Customers of Utkarsh Small Finance Bank Limited can benefit from features such as Top-up/Balance Transfer facility, Easy Documentation Process for hassle-free processing, loan amounts of up to Rs. 50 crores with a tenure of up to 30 years, and streamlined eligibility criteria for both salaried and self-employed individuals.
The bank maintains a varied product portfolio with a specific focus on microfinance, which remains an important business segment.
The bank’s asset products encompass:
- Micro banking loans, including joint liability group loans and individual loans
- Retail loans, both unsecured and secured
- Wholesale lending, offering short-term and long-term loans
- Housing loans with an emphasis on affordable housing
- Commercial vehicle and construction equipment loans
- Gold loans
Utkarsh Small Finance Bank IPO More Details Click Here