On July 12, Utkarsh Small Finance Bank will make an initial public offering (IPO) for an estimated Rs 500 crore. On July 24, Utkarsh SFB shares are expected to be launched on the NSE and BSE.
On Wednesday, July 12, Utkarsh Small Finance Bank will make an initial public offering (IPO). The IPO of Utkarsh SFB, a small finance bank situated in Varanasi, Uttar Pradesh, includes a fresh issue of Rs 500 crore in shares.
Here are some important information to know about Utkarsh Small Finance Bank’s forthcoming IPO:
Important dates to remember
The bidding period will last three trade days, from July 12 to July 14, from 10 a.m. to 5 p.m. The allocation basis is expected to be confirmed on July 19, and the credit of shares on July 21. Utkarsh SFB shares are expected to be floated on July 24.
IPO price
During the three-day subscription period, interested investors can bid for Utkarsh Small Finance Bank shares in the region of Rs 23-25 per share.
Lot size
Bidding will be accessible in multiples of 600 shares, subject to certain restrictions. This works out to Rs 13,8000-15,000 per lot.Â
Listing
Shares of Utkarsh Small Finance Bank will be listed on the BSE and NSE.
Investor reservation
Up to 75% of the issuance is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (also known as high-net-worth individuals), and 10% for regular investors.
Financials
According to its red herring prospectus, Utkarsh Small Finance Bank made a net profit of Rs 404.5 crore for the fiscal year 2022-23, up from a net profit of Rs 61.5 crore the previous year. Its overall income climbed 37.9% year on year to Rs 2,804.3 crore for the fiscal year ending March 31, 2023.
About Utkarsh Small Finance Bank
Utkarsh Small Finance Bank is a small finance bank with a wide product range that was established in 2016.
