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IPO Status: Listed [12th Jul 2023 to 14th Jul 2023]
Utkarsh Small Finance Bank Limited is offering an IPO whose issue size is worth Rs 500.00 Cr. The subscription period for this IPO will open from 12 July 2023 to 14 July 2023. The face value of the shares is Rs 10 per share. And the issue price band for this IPO is ranging fromRs 23 to Rs 25 per share along with the minimum lot size of 600 shares or its multiples.
Stay tuned for more information on Utkarsh Small Finance Bank Limited IPO, including company overview, financials, live subscription, allotment, GMP and more.
| IPO Issue Opening Date: | 12th Jul 2023 |
| IPO Issue Closing Date: | 14th Jul 2023 |
| IPO Issue Price: | ₹23.00-25.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not more than 10% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹500.00 Cr |
| Fresh Issue: | ₹500.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 84.75% |
| Promoter Holding Post IPO: | 69.28% |
| Allotment Status: | Allotment Status |
| BSE Code: | 543942 |
| NSE Code: | UTKARSHBNK |
Get important updates regarding Utkarsh Small Finance Bank IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 19th Jul 2023 |
| Refunds Initiation* | 20th Jul 2023 |
| Credit of Shares to Demat* | 21st Jul 2023 |
| IPO Listing Date* | 21st Jul 2023 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹23.00-25.00 |
| Market Lot: | 600 Shares |
| 1 Lot Amount: | ₹15000 |
| Min Small HNI Lots(2-10 Lakh): | 8400 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 40200 shares (67 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 21-07-2023 | 25.00 | 16 | -- | ₹41 (64%) | 21-Jul-2023 9:54 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Utkarsh Small Finance Bank is an SFB in India and recorded the second fastest AUM growth among SFBs between FY 2019 and FY 2022 with AUM of more than ₹ 50 billion. Utkarsh CoreInvest Limited started its operations as an NBFC in FY 2010 and focuses on providing microfinance to unserved and underserved segments, particularly in the states of Uttar Pradesh and Bihar.
The company is headquartered in Varanasi, Uttar Pradesh, and over the years has strategically expanded its SFB operations to states where it could leverage Utkarsh CoreInvest Limited's prior microfinance experience. The focus of its operations is on rural and semi-urban areas. As of March 31, 2022, the company had 3.14 million customers (both deposits and loans) predominantly located in rural and semi-urban areas primarily in the states of Bihar, Uttar Pradesh and Jharkhand, which have the best asset quality compared to other states but have low and moderate credit penetration.
The Company is also focused on increasing its presence in newer regions in addition to the existing states in which it operates by entering into agreements with business correspondents ("BCs") and direct sales agents ("DSAs"). As of March 31, 2022, it had relationships with 10 BCs to acquire clients and 187 DSAs to grow its asset portfolio.
| Incorporation | Sector | IPO Issue Size | Website |
| 2016 | Financial Service | ₹500.00 Cr | https://www.utkarsh.bank/ |
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.
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | EMP | Total | |
|---|---|---|---|---|---|---|
| # of Shares Offered | 59,400,000 (53.56%) | 29,700,000 (26.78%) | 19,800,000 (17.85%) | 2,000,000 | 110,900,000 | |
| 1 | 12th Jul 2023 19:04 | 0.04x | 9.01x | 15.21x | 3.02x | 5.20x |
| 2 | 13th Jul 2023 19:04 | 4.22x | 30.18x | 40.21x | 9.36x | 17.69x |
| 3 | 14th Jul 2023 19:04 | 135.71x | 88.74x | 78.38x | 18.02x | 110.77x |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 9,404.32 | 1,406.18 | 186.74 | 1,019.50 | 260.23 | 2,675.04 |
| 31-Mar-21 | 12,137.91 | 1,705.84 | 111.82 | 1,368.35 | 520.02 | 2,607.83 |
| 31-Mar-22 | 15,063.77 | 2,033.65 | 61.46 | 1,572.30 | 676.78 | 2,571.94 |
| 31-Mar-23 | 19,117.54 | 2,804.29 | 404.50 | 2,000.32 | 1,104.42 | 2,349.48 |
| Amount in ₹ Crore | ||||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Utkarsh Small Finance Bank Limited | 4.52 | 4.51 | 22.33 | 20.22 | Consolidated | |
| Equitas Small Finance Bank | 4.71 | 4.67 | 46.44 | 19.61 | 11.12 | Consolidated |
| Ujjivan Small Finance Bank Limited | 5.88 | 5.87 | 20.25 | 6.93 | 27.79 | Consolidated |
| Credit Access Grameen Limited | 52.04 | 51.82 | 326.89 | 24.13 | 16.18 | Consolidated |
| Spandana Sphoorty Financial Limited | 1.74 | 1.74 | 436.58 | 403.33 | 0.4 | Consolidated |
| Bandhan Bank Limited | 13.62 | 13.62 | 121.58 | 16.51 | 11.21 | Consolidated |
| AU Small Finance Bank Limited | 21.86 | 21.74 | 164.64 | 35.36 | 13.01 | Consolidated |
| Suryoday Small Finance Bank | 7.32 | 7.32 | 149.28 | 22.9 | 4.9 | Consolidated |
| Fusion Micro Finance Limited | 43.29 | 43.13 | 230.74 | 13.5 | 16.67 | Consolidated |
Last Updated on 25-Jul-2023 06:00:20
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Utkarsh Small Finance Bank IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Utkarsh Small Finance Bank IPO with Zerodha.
Alternate approch to apply in Utkarsh Small Finance Bank IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Utkarsh Small Finance Bank IPO Review and Important Updates
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To subscribe or apply in Utkarsh Small Finance Bank IPO, you can use the following methods:
| Utkarsh Small Finance Bank IPO Applying Mode | Method | Details |
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Utkarsh Small Finance Bank IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Utkarsh Small Finance Bank IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Utkarsh Small Finance Bank IPO. Most of the Syndicate Banks provide access to apply in Utkarsh Small Finance Bank IPO via ASBA process. You must have your net banking access, DP ID information to apply in Utkarsh Small Finance Bank IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Utkarsh Small Finance Bank IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Utkarsh Small Finance Bank IPO Review and Important Updates
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Applying in Utkarsh Small Finance Bank IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Utkarsh Small Finance Bank IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Utkarsh Small Finance Bank IPO, please refer article >> Link
Utkarsh Small Finance Bank IPO Review and Important Updates
Steps to download the online application form for Utkarsh Small Finance Bank IPO
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Utkarsh Small Finance Bank IPO is going to be list on 21-07-2023. NSE Code for Utkarsh Small Finance Bank is UTKARSHBNK. BSE Code for Utkarsh Small Finance Bank is 543942.
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Utkarsh Small Finance Bank IPO Allotment Date is 19-07-2023.
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