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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 ₹25.00 per share . The lot size for an application is 600. The minimum amount of investment required by an retail is ₹13,800 (600 shares). 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 Date | July 12, 2023 to July 14, 2023 |
| Listing Date | July 21, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹23 to ₹25 per share |
| Issue Price Final | ₹25 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 20,00,00,000 shares (aggregating up to ₹500.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 1,09,55,21,522 shares |
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, 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 | Maximum 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%) |
| 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 |
Utkarsh Small Finance Bank IPO raises ₹222.75 crore from anchor investors. Utkarsh Small Finance Bank IPO Anchor bid date is July 11, 2023. Utkarsh Small Finance Bank IPO Anchor Investors list
| Bid Date | July 11, 2023 |
| Shares Offered | 8,91,00,000 |
| Anchor Portion Size (In Cr.) | 222.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 18, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 17, 2023 |
Utkarsh Small Finance Bank IPO opens on July 12, 2023, and closes on July 14, 2023.
| IPO Open Date | Wed, Jul 12, 2023 |
| IPO Close Date | Fri, Jul 14, 2023 |
| Tentative Allotment | Wed, Jul 19, 2023 |
| Initiation of Refunds | Thu, Jul 20, 2023 |
| Credit of Shares to Demat | Fri, Jul 21, 2023 |
| Tentative Listing Date | Fri, Jul 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jul 14, 2023 |
Investors can bid for a minimum of 600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 9,404.32 | 12,137.91 | 15,063.77 | 19,117.54 |
| Total Income | 1,406.18 | 1,705.84 | 2,033.65 | 2,804.29 |
| Profit After Tax | 186.74 | 111.82 | 61.46 | 404.50 |
| Net Worth | 1,019.50 | 1,368.35 | 1,572.30 | 2,000.32 |
| Reserves and Surplus | 260.23 | 520.02 | 676.78 | 1,104.42 |
| Total Borrowing | 2,675.04 | 2,607.83 | 2,571.94 | 2,349.48 |
The market capitalization of Utkarsh Small Finance Bank IPO is ₹2739.76 Cr.
| KPI | Values |
|---|---|
| ROE | 22.64% |
| Debt/Equity | 8.03 |
| RoNW | 20.22% |
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.
[Dilip Davda] USFB is one of the leading small finance banks and has posted average financial performance. SFB’s future prospects hinge on the monetary policy of RBI and the Government of India. The sustainability of current margins remains a major concern. Though the issue appears lucratively priced based on FY23 performance, procedural lapses and non-compliance issues are pin-pointers. Hence, well-informed investors may consider parking funds for the medium to long-term perspectives. Read detail review...
| Listing Date | July 21, 2023 |
| BSE Script Code | 543942 |
| NSE Symbol | UTKARSHBNK |
| ISIN | INE735W01017 |
| Final Issue Price | ₹25 per share |
| BSE Listing Group | B |
Utkarsh Small Finance Bank Ltd.
Utkarsh Tower, NH – 31 (Airport Road),
Sehmalpur, Kazi Sarai, Harhua,
Varanasi - 221 105
Varanasi, Uttar Pradesh
Phone: +91 542 660 5555
Email: shareholders@utkarsh.bank
Website: https://www.utkarsh.bank/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: utkarsh.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
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 ₹500.00 Crores. The issue is priced at ₹25 per share. The minimum order quantity is 600.
The IPO opens on July 12, 2023, and closes on July 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 July 12, 2023 and closes on July 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 Friday, July 21, 2023. Check the Utkarsh Small Finance Bank IPO allotment status.
The Utkarsh Small Finance Bank IPO listing date is on Friday, July 21, 2023.
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