Bookbuilding IPO | ₹500 Cr | Listed at BSE, NSE | Wed, Jul 12, 2023 - Fri, Jul 14, 2023
Utkarsh Small Finance Bank IPO is a book build issue of ₹500.00 crores. The issue is entirely a fresh issue of 20.00 crore shares of ₹500.00 crore.
Utkarsh Small Finance Bank IPO bidding started from Jul 12, 2023 and ended on Jul 14, 2023. The allotment for Utkarsh Small Finance Bank IPO was finalized on Jul 19, 2023. The shares got listed on BSE, NSE on Jul 21, 2023.
Utkarsh Small Finance Bank IPO price band is set at ₹25 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹15,000 (600 shares) (based on upper price). The lot size investment for sNII is 14 lots (8,400 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (40,200 shares), amounting to ₹10,05,000.
The issue includes a reservation of up to 20,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Utkarsh Small Finance Bank IPO RHP for detailed Information.
IPO Open
Wed, Jul 12, 2023
IPO Close
Fri, Jul 14, 2023
Issue Price
₹25 per share
Market Cap (Pre-IPO)
₹2,739.76 Cr
| IPO Date | 12 to 14 Jul, 2023 |
| Listed on | Fri, Jul 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹23 to ₹25 |
| Issue Price | ₹25 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 20,00,00,000 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 20,00,00,000 shares (agg. up to ₹500 Cr) |
| Share Holding Post Issue | 1,09,55,21,522 shares |
| BSE Script Code / NSE Symbol | 543942 / UTKARSHBNK |
| ISIN | INE735W01017 |
Utkarsh Small Finance Bank IPO offers total 20,00,00,000 shares. Out of which 14,85,00,000 (74.25%) allocated to QIB, 5,94,00,000 (29.70%) allocated to QIB (Ex- Anchor), 2,97,00,000 (14.85%) allocated to NII 1,98,00,000 (9.90%) allocated to RII and 8,91,00,000 (44.55%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 14,85,00,000 (74.25%) | NA |
| − Anchor Investor Shares Offered | 8,91,00,000 (44.55%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 5,94,00,000 (29.70%) | NA |
| NII (HNI) Shares Offered | 2,97,00,000 (14.85%) | NA |
| − bNII > ₹10L | 1,98,00,000 (9.90%) | 2,357 |
| − sNII < ₹10L | 99,00,000 (4.95%) | 1,178 |
| Retail Shares Offered | 1,98,00,000 (9.90%) | 33,000 |
| Employee Shares Offered | 20,00,000 (1.00%) | NA |
| Total Shares Offered | 20,00,00,000 (100.00%) |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹15,000 |
| Retail (Max) | 13 | 7,800 | ₹1,95,000 |
| S-HNI (Min) | 14 | 8,400 | ₹2,10,000 |
| S-HNI (Max) | 66 | 39,600 | ₹9,90,000 |
| B-HNI (Min) | 67 | 40,200 | ₹10,05,000 |
Utkarsh Small Finance Bank IPO raises ₹222.75 crore from anchor investors. Utkarsh Small Finance Bank IPO Anchor bid date is July 11, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 11, 2023 |
| Shares Offered | 8,91,00,000 |
| Anchor Portion (₹ Cr.) | 222.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Aug 18, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Oct 17, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 19,117.54 | 15,063.77 | 12,137.91 | 9,404.32 |
| Total Income | 2,804.29 | 2,033.65 | 1,705.84 | 1,406.18 |
| Profit After Tax | 404.50 | 61.46 | 111.82 | 186.74 |
| NET Worth | 2,000.32 | 1,572.30 | 1,368.35 | 1,019.50 |
| Reserves and Surplus | 1,104.42 | 676.78 | 520.02 | 260.23 |
| Total Borrowing | 2,349.48 | 2,571.94 | 2,607.83 | 2,675.04 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To augment Tier–1 capital base to meet future capital requirements | 454.61 |
| 2 | Issue expenses | 45.39 |
| Total | 500.00 |
| KPI | |
|---|---|
| ROE | 22.64% |
| Debt/Equity | 8.03 |
| RoNW | 20.22% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.52 | |
| P/E (x) | 6.78 | |
| Promoter Holding | 84.75% | 69.28% |
| Market Cap | ₹2,739.76 Cr. |
The Utkarsh Small Finance Bank IPO is subscribed 110.77 times on July 14, 2023 7:02:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 135.71 | 5,94,00,000 | 8,06,12,60,400 |
| NII | 88.74 | 2,97,00,000 | 2,63,56,34,400 |
| bNII (bids above ₹10L) | 91.83 | 1,98,00,000 | 1,81,82,26,800 |
| sNII (bids below ₹10L) | 82.57 | 99,00,000 | 81,74,07,600 |
| Retail | 78.38 | 1,98,00,000 | 1,55,18,59,800 |
| Employee | 18.02 | 20,00,000 | 3,60,45,600 |
| Total | 110.77 | 11,09,00,000 | 12,28,48,00,200 |
Total Application : 20,73,319
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 14.36 |
| 2 | Commission/ processing fee for SCSBs, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, RTAs and CDP | 6.26 |
| 3 | Fees payable to the Registrar to the Issue | 0.36 |
| 4 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 5.06 |
| 5 | Advertising and marketing expenses for the Issue | 5.93 |
| 6 | Printing and stationery expenses | 1.52 |
| 7 | Fee payable to legal counsel | 6.45 |
| 8 | Fees payable to other advisors to the Issue including but not limited to auditors, independent chartered accountant, industry expert, and ROC consultant | 4.44 |
| 9 | Miscellaneous | 1.01 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹25.00 | ₹25.00 |
| Open | ₹39.95 | ₹40.00 |
| Low | ₹37.25 | ₹37.20 |
| High | ₹47.94 | ₹48.00 |
| Last Trade | ₹47.94 | ₹48.00 |
Lead Manager Reports
Utkarsh Small Finance Bank IPO is a main-board IPO of 20,00,00,000 equity shares of the face value of ₹10 aggregating up to ₹500 Crores. The issue is priced at ₹25 per share. The minimum order quantity is 600.
The IPO opens on Wed, Jul 12, 2023, and closes on Fri, Jul 14, 2023.
Kfin Technologies Ltd. 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 Wed, Jul 12, 2023 and closes on Fri, Jul 14, 2023.
Utkarsh Small Finance Bank IPO lot size is 600, and the minimum amount required for application is ₹15,000.
You can apply in Utkarsh Small Finance Bank IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Jul 21, 2023. Check the Utkarsh Small Finance Bank IPO allotment status.
The Utkarsh Small Finance Bank IPO listing date is on Fri, Jul 21, 2023.
