Utkarsh Small Finance Bank IPO to hit Street soon: Issue price, listing date, lot size, other important details to know

Utkarsh Small Finance Bank is all set to launch an initial public offer (IPO) on Wednesday, July 12. The IPO of Utkarsh SFB — a Varanasi, Uttar Pradesh-based small finance bank — comprises fresh issuance of shares worth Rs 500 crore. 

Here are some of the imporatnt details to know about the upcoming IPO of Utkarsh Small Finance Bank:

Important dates: The bidding process will take place for three trading days, from July 12 to July 14, from 10 am to 5 pm. The basis of allotment is likely to be finalised on July 19 and the credit of shares on July 21. Utkarsh SFB shares are likely to enter the listed space on July 24.   

IPO price: Using the three-day-long subscription window, potential investors will be able to bid for Utkarsh Small Finance Bank shares in a range of Rs 23-25 apiece. 

Lot size: Bidding will be available in multiples of 600 shares, subject to certain limits. That translates to Rs 13,8000-15,000 per lot. 

Listing: Utkarsh Small Finance Bank shares will be listed on bourses BSE and NSE.

Investor reservation: Up to 75 per cent of the issue is reserved for qualified institutional buyers (QIBs), up to 15 per cent for non-institutional investors — also known as high net worth individuals — and the remaining 10 per cent for retail investors.

Financials: Utkarsh Small Finance Bank registered a net profit of Rs 404.5 crore for the financial year 2022-23 as against a net profit of Rs 61.5 crore for the previous year, according to its red herring prospectus. Its total income increased 37.9 per cent to Rs 2,804.3 crore for the year ended March 31, 2023 compared with the year-ago period. 

About Utkarsh Small Finance Bank: Incorporated in 2016, Utkarsh Small Finance Bank is a small finance bank with a diverse product portfolio.

The lender provides a host of services to its customers, including dccounts and deposits, cards, insurance, investment and loans. 

What is a small finance bank?

Small finance banks are a special type of lenders authorised to provide basic banking services, aimed primarily at promoting financial inclusion. 

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