Utkarsh Small Finance Bank IPO booked 4.73 times, retail portion 13.75 times on Day 1

Utkarsh SFB was incorporated as an NBFC in FY10 with a core focus on micro finance loans to underserved segments and in particular in the states of Uttar Pradesh and Bihar.

The Utkarsh Small Finance Bank (SFB) public offer received bids for 57.07 crore shares against an issue size of 12 crore units,

subscribing 4.73 times on the first day of bidding today, exchange data showed. The IPO will close on July 14.

Retail investors have bought 13.75 times their allotted quota and employees have subscribed 2.73 times.

As many as 21 lakh shares have been reserved for employees of which 50 lakh shares have been booked, Bombay Stock Exchange (BSE) data showed.

The part set aside for qualified institutional buyers was subscribed 4 percent.

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