Utkarsh Small Finance Bank IPO subscribed 14.38 times so far on day 2

13 Jul 2023 , 04:00 PM

The initial public offer (IPO) of Utkarsh SFB has been subscribed 14.38 times by 04.00 PM on day 2 of the offer. The issue will close on July 14. Click here to apply the IPO.

According to BSE data, retail investors have subscribed to 34.42 times their allotted quota in the IPO, while employees have subscribed 7.97 times. Out of the 21 lakh shares reserved for employees, 74 lakh shares have been booked.

The portion set aside for qualified institutional buyers has been subscribed 2.60 times. The non-institutional portion of the IPO has been oversubscribed 25.28 times, with bids received for 81.6 crore shares against the reserved portion of 3.2 crore shares.

The IPO consists of a fresh sale of 20 crore equity shares, and investors can bid for a minimum of 600 equity shares and in multiples thereafter.

Utkarsh Small Finance Bank, headquartered in Varanasi, operates across 26 states and Union Territories. As of March 31, 2023, the bank has 830 banking outlets and a workforce of 15,424 employees. With a customer base of 3.59 million, the bank primarily serves rural and semi-urban areas, particularly in Bihar and Uttar Pradesh.

 

Open date	12 July 2023
Close date	14 July 2023
Lot size	600 shares
IPO size (Rs crore)	Rs 500 crore
IPO price range (Rs)	Rs 23 to 25 shares
Minimum investment	Rs 15,000
Basis of allotment date	19 July 2023
Refunds date	20 July 2023
Credit to demat account date	21 July 2023
Listing date	24 July 2023