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Utkarsh Small Finance Bank IPO is a book built issue of Rs 500.00 crores. The issue is entirely a fresh issue of 20 crore shares.
Utkarsh Small Finance Bank IPO bidding started from July 12, 2023 and ended on July 14, 2023. The allotment for Utkarsh Small Finance Bank IPO was finalized on Wednesday, July 19, 2023. The shares got listed on BSE, NSE on July 21, 2023.
Utkarsh Small Finance Bank IPO price band is set at ₹23 to ₹25 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (8,400 shares), amounting to ₹210,000, and for bNII, it is 67 lots (40,200 shares), amounting to ₹1,005,000.
ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Utkarsh Small Finance Bank IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Utkarsh Small Finance Bank IPO RHP for detailed information.
| IPO Date | July 12, 2023 to July 14, 2023 |
| Listing Date | July 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹23 to ₹25 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 200,000,000 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | 200,000,000 shares (aggregating up to ₹500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 895,521,522 |
| Share holding post issue | 1,095,521,522 |
Utkarsh Small Finance Bank IPO offers 200,000,000 shares. 59,400,000 (29.70%) to QIB, 29,700,000 (14.85%) to NII, 19,800,000 (9.90%) to RII, 2,000,000 (1.00%) to employees 89,100,000 (44.55%) to Anchor investors. 33,000 RIIs will receive minimum 600 shares and 1,178 (sNII) and 2,357 (bNII) will receive minimum 8,400 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 89,100,000 (44.55%) | NA |
| QIB Shares Offered | 59,400,000 (29.70%) | NA |
| NII (HNI) Shares Offered | 29,700,000 (14.85%) | |
| bNII > ₹10L | 19,800,000 (9.90%) | 2,357 |
| sNII < ₹10L | 9,900,000 (4.95%) | 1,178 |
| Retail Shares Offered | 19,800,000 (9.90%) | 33,000 |
| Employee Shares Offered | 2,000,000 (1.00%) | NA |
| Total Shares Offered | 200,000,000 (100%) |
Utkarsh Small Finance Bank IPO raises Rs 222.75 crore from anchor investors. Utkarsh Small Finance Bank IPO Anchor bid date is July 11, 2023. Utkarsh Small Finance Bank IPO Anchor Investors list
| Bid Date | July 11, 2023 |
| Shares Offered | 89,100,000 |
| Anchor Portion Size (In Cr.) | 222.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 18, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 17, 2023 |
Utkarsh Small Finance Bank IPO opens on July 12, 2023, and closes on July 14, 2023.
| IPO Open Date | Wednesday, July 12, 2023 |
| IPO Close Date | Friday, July 14, 2023 |
| Basis of Allotment | Wednesday, July 19, 2023 |
| Initiation of Refunds | Thursday, July 20, 2023 |
| Credit of Shares to Demat | Friday, July 21, 2023 |
| Listing Date | Friday, July 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 14, 2023 |
Investors can bid for a minimum of 600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹15,000 |
| Retail (Max) | 13 | 7800 | ₹195,000 |
| S-HNI (Min) | 14 | 8,400 | ₹210,000 |
| S-HNI (Max) | 66 | 39,600 | ₹990,000 |
| B-HNI (Min) | 67 | 40,200 | ₹1,005,000 |
| Lot Size Calculator | |||
The promoter of the Bank is Utkarsh CoreInvest Limited.
| Share Holding Pre Issue | 84.75% |
| Share Holding Post Issue | 69.28% |
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:
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
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 9,404.32 | 12,137.91 | 15,063.77 | 19,117.54 |
| Revenue | 1,406.18 | 1,705.84 | 2,033.65 | 2,804.29 |
| Profit After Tax | 186.74 | 111.82 | 61.46 | 404.50 |
| Net Worth | 1,019.50 | 1,368.35 | 1,572.30 | 2,000.32 |
| Reserves and Surplus | 260.23 | 520.02 | 676.78 | 1,104.42 |
| Total Borrowing | 2,675.04 | 2,607.83 | 2,571.94 | 2,349.48 |
The market capitalization of Utkarsh Small Finance Bank IPO is Rs 2739.76 Cr.
| KPI | Values |
|---|---|
| ROE | 22.64% |
| Debt/Equity | 8.03 |
| RoNW | 20.22% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.52 | |
| P/E (x) | 6.78 |
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.
[Dilip Davda] USFB is one of the leading small finance banks and has posted average financial performance. SFB’s future prospects hinge on the monetary policy of RBI and the Government of India. The sustainability of current margins remains a major concern. Though the issue appears lucratively priced based on FY23 performance, procedural lapses and non-compliance issues are pin-pointers. Hence, well-informed investors may consider parking funds for the medium to long-term perspectives. Read detail review...
The Utkarsh Small Finance Bank IPO is subscribed 110.77 times on July 14, 2023 7:02:00 PM. The public issue subscribed 78.38 times in the retail category, 135.71 times in the QIB category, and 88.74 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 135.71 |
| NII | 88.74 |
| bNII (bids above ₹10L) | 91.83 |
| sNII (bids below ₹10L) | 82.57 |
| Retail | 78.38 |
| Employee | 18.02 |
| Total | 110.77 |
Total Application : 2,073,319 (62.83 times)
| Listing Date | July 21, 2023 |
| BSE Script Code | 543942 |
| NSE Symbol | UTKARSHBNK |
| ISIN | INE735W01017 |
| Final Issue Price | ₹25 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹25.00 |
| ₹39.95 |
| ₹37.25 |
| ₹47.94 |
| ₹47.94 |
| NSE |
|---|
| ₹25.00 |
| ₹40.00 |
| ₹37.20 |
| ₹48.00 |
| ₹48.00 |
Utkarsh Small Finance Bank Limited
Utkarsh Tower, NH – 31 (Airport Road),
Sehmalpur, Kazi Sarai, Harhua,
Varanasi - 221 105
Phone: +91 542 660 5555
Email: shareholders@utkarsh.bank
Website: https://www.utkarsh.bank/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: utkarsh.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Utkarsh Small Finance Bank IPO is a main-board IPO of 200,000,000 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores. The issue is priced at ₹23 to ₹25 per share. The minimum order quantity is 600 Shares.
The IPO opens on July 12, 2023, and closes on July 14, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Utkarsh Small Finance Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Utkarsh Small Finance Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Utkarsh Small Finance Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Utkarsh Small Finance Bank IPO opens on July 12, 2023 and closes on July 14, 2023.
Utkarsh Small Finance Bank IPO lot size is 600 Shares, and the minimum amount required is ₹15,000.
You can apply in Utkarsh Small Finance Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Utkarsh Small Finance Bank IPO will be done on Wednesday, July 19, 2023, and the allotted shares will be credited to your demat account by Friday, July 21, 2023. Check the Utkarsh Small Finance Bank IPO allotment status.
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