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Utkarsh Small Finance Bank IPO GMP, Price, Dates & Allotment Details 2023

Utkarsh Small Finance Bank IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Utkarsh Small Finance Bank IPO will open on July 12 and close on July 14, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 500 crores through this public issue.

Utkarsh Small Finance Bank Limited (“the Company”)

Utkarsh Small Finance Bank Limited was incorporated in 2016. The company is an SFB in India and recorded the second-fastest AUM growth between Fiscal 2019 and Fiscal 2022 among SFBs, with an AUM of more than ₹ 50 billion. (Source: CRISIL Report) company’s product portfolio to include non-micro banking loans.

Its promoter, Utkarsh CoreInvest Limited, commenced its operations as an NBFC in Fiscal 2010 and focused on providing microfinance to underserved and underserved segments, particularly in the states of Uttar Pradesh and Bihar. The company has its headquarters located in Varanasi, Uttar Pradesh, and has over the years expanded its own SFB operations strategically in States where they have been able to leverage the prior microfinance experience of Utkarsh CoreInvest Limited.

Company operations are spread across India and are present in 22 States and Union Territories with 686 Banking Outlets and 12,617 employees as of March 31, 2022. As of March 31, 2022, 27.70% of our Banking Outlets were located in Unbanked Rural centers (URCs), as against the regulatory requirement that 25% of banking outlets of SFBs be located in URCs.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. toward augmenting its Tier-1 capital base to meet its future capital requirements.
  2. Further, the proceeds from the Issue will also be used towards meeting the expenses in relation to the Issue.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20
Net Worth2,0001,5721,3681,020
Total Assets19,11815,06412,1389,404
Reserve & Surplus1,104677520260
Total Borrowings2,3492,5722,6082,675
Total Revenue2,8042,0341,7061,406
Profit After Tax40561112187
(Amount in ₹ Crores)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 23 to ₹ 25 per share
Face Value₹ 10 per share
Market Lot600 shares
Issue Size200,000,000 shares (aggregating up to ₹ 500 crores)
Fresh Issue200,000,000 shares (aggregating up to ₹ 500 crores)
Listing AtBSE, NSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offered59,400,000 (29.70%)
NII (HNI) shares offered29,700,000 (14.85%)
Retail shares offered19,800,000 (9.90%)
Employee shares offered2,000,000 (1.00%)
Anchor investor shares offered89,100,000 (44.55%)
Total shares offered200,000,000 (100%)

GMP: Utkarsh Small Finance Bank IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Utkarsh Small Finance Bank IPO

The issue opens for subscription on July 12, 2023, and closes for subscription on July 14, 2023 (both days inclusive). The basis of allotment will be finalised on July 19, 2023, and the refunds will be initiated on July 20, 2023. In addition, the demat credits are expected to happen on July 21, 2023, and the stock will be listed on the BSE and NSE on July 24, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJuly 12, 2023,
Closing DateJuly 14, 2023
Basis of AllotmentJuly 19, 2023
Initiation of RefundsJuly 20, 2023
A credit of shares to Demat A/cJuly 21, 2023
Listing DateJuly 24, 2023

Lot Size

The lot size of the Utkarsh Small Finance Bank IPO is 600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 600 shares of ₹ 15,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)1600₹ 15,000
Retail (Maximum)137,800₹ 195,000
S-HNI (Minimum)148,400₹ 210,000
S-HNI (Maximum)6639,600₹ 990,000
B-HNI (Minimum)6740,200₹ 1,005,000

Promoters Holdings 

Utkarsh CoreInvest Limited is the promoter of the bank.

Pre-issue Shares Holdings84.75%
Post-issue Shares Holdings69.28%

Anchor Investors 

A total of 89,100,000 shares are offered to Anchor investors. The Anchor Investor lock-in period for 50% of equity shares is August 31, 2023, and November 30, 2023, for the remaining portion.

Anchor Investor Bid DateJuly 11, 2023
Anchor Portion Size₹ 222.75 crores (Shares offered * Upper Price)
Anchor lock-in period end date (50% Shares) August 31, 2023 (30 Days)
Anchor lock-in period end date (remaining shares)November 30, 2023 (90 Days)

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationUtkarsh Small Finance Bank Limited
Utkarsh Tower, NH – 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua, Varanasi – 221 105
Phone: +91 542 660 5555
Email: [email protected]
Website: https://www.utkarsh.bank/
IPO RegistrarKfin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ris.kfintech.com/ipostatus/
IPO Lead Manager(s)1. ICICI Securities Limited Kotak
2. Mahindra Capital Company Limited

FAQs

The finalisation of the basis of allotment for the Utkarsh Small Finance Bank IPO will be done on July 19, 2023, and the allotted shares will be credited to your demat account by July 21, 2023. Check the Utkarsh Small Finance Bank IPO allotment status.

The Utkarsh Small Finance Bank IPO shares listing date is July 24, 2023.

The investors’ portion for QIB is 75% of the offer, NII (HNI) is 15% of the net issue, and Retail is 35% of the net issue.

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