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Utkarsh Small Finance Bank Limited IPO Detail

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 DateJul 12, 2023
IPO Closing DateJul 14, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹23 - 25 per equity share
Market Lot600 Shares
Min Order Quantity600 Shares
Listing AtBSE, NSE
Issue Size₹500.00 Cr
Fresh Issue200,000,000 shares (aggregating up to ₹500.00 Cr)
Offer for Sale-
Retail Portion 9.90%

IPO Subscription (Bidding Detail)

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 DateJul 12, 2023
IPO Close DateJul 14, 2023
Basis of Allotment DateJul 19, 2023
Initiation of RefundsJul 20, 2023
Credit of Shares to Demat AccountJul 21, 2023
IPO Listing DateJul 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding84.75%
Post Issue Share Holding69.28%

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