Utkarsh Small Finance Bank Limited IPO Detail
Incorporated in 2016, Utkarsh Small Finance Bank Limited is an SFB (Small Finance Bank) in India and recorded the second fastest AUM growth in the years Fiscal 2019 and Fiscal 2022 among SFBs with AUM of more than Rs. 50 billion.
The bank extends its facilities to individuals and businesses to assist them with their financial requirements.
The services offered by Utkarsh SFB include:
- Accounts and Deposits
- Cards
- Insurance and Investments
- Loans
- Ways to Bank
Customers of Utkarsh Small Finance Bank Limited can avail of features like Top-up/Balance Transfer facility, Hassle-free processing with Easy Documentation Process, Avail loan up to Rs. 50 crores and Tenure up to 30 years, and efficient eligibility for salaried and self-employed individuals.
The company has a diverse product portfolio and microfinance remain a focused business segment.
The asset products of the entity include
- micro banking loans - joint liability group loans and individual loans
- retail loans - unsecured loans, and secured loans
- wholesale lending - short-term and longterm loan
- housing loans with a focus on affordable housing
- commercial vehicle/construction equipment loans
- gold loans
Company Promoters
The promoter of the Bank is Utkarsh CoreInvest Limited.IPO Details
| IPO Opening Date | Jul 12, 2023 |
| IPO Closing Date | Jul 14, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹23 - 25 per equity share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹500.00 Cr |
| Fresh Issue | 200,000,000 shares (aggregating up to ₹500.00 Cr) |
| Offer for Sale | - |
| Retail Portion | 9.90% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.04x | - | - | 9.01x | 15.20x | 5.20x |
| Day 2 | 4.22x | - | - | 30.13x | 39.88x | 17.62x |
| Day 3 | 135.71x | - | - | 88.74x | 78.37x | 110.77x |
IPO Tentative Timetable
The Utkarsh Small Finance Bank Limited IPO open date is Jul 12, 2023, and the close date is Jul 14, 2023. The issue may list on Jul 24, 2023.
| IPO Open Date | Jul 12, 2023 |
| IPO Close Date | Jul 14, 2023 |
| Basis of Allotment Date | Jul 19, 2023 |
| Initiation of Refunds | Jul 20, 2023 |
| Credit of Shares to Demat Account | Jul 21, 2023 |
| IPO Listing Date | Jul 24, 2023 |
IPO Lot Size
The Utkarsh Small Finance Bank Limited IPO market lot size is 600 shares. A retail-individual investor can apply for up to 13 lots (7800 shares or ₹195000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 600 | ₹15000 |
| Maximum | 13 | 7800 | ₹195000 |
IPO Promoter Holding
| Pre Issue Share Holding | 84.75% |
| Post Issue Share Holding | 69.28% |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 15063.77 | 2033.65 | 61.46 |
| 31-Mar-23 | 19117.54 | 2804.29 | 404.50 |
Objects of the Issue:
The Utkarsh Small Finance Bank Limited proposes to utilize the Net Proceeds from the Issue towards augmenting its Tier - 1 capital base to meet its future capital requirements. Further, the proceeds from the Issue will also be used towards meeting the expenses in relation to the Issue.Utkarsh Small Finance Bank Limited IPO Registrar:
KFin Technologies Limited
Utkarsh Small Finance Bank Limited IPO Lead Manager(s):
Icici Securities Limited Kotak Mahindra Capital Company Limited
Company Contact Information:
Utkarsh Small Finance Bank Limited
Utkarsh Tower, NH – 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua
Varanasi
Varanasi
