Utkarsh Small Finance Bank IPO: Top details you need to know

11 Jul 2023 , 12:18 PM

The Rs 500 crore initial public offer (IPO) of Utkarsh SFB will be opening for subscription on July 12 and will conclude on July 14. The anchor book of the IPO has opened today on July 11.

Utkarsh Small Finance Bank was incorporated in 2017 and has its headquartered in Varanasi. It has recorded the third fastest gross loan portfolio growth between FY19 and FY23 among SFBs with a gross loan portfolio of more than Rs 6,000 crore as per CRISIL report.

Size of IPO: The initial public offer comprises fresh issue of equity shares of up to Rs 500 crore with no element of an offer for sale.

IPO price band: The SFB has fixed the price band at Rs 23-25 per share.

Lot size: Investors who want to apply for the IPO can bid for 600 shares and its multiples thereof.

IPO structure: About 75% of the offer is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NII) and the rest 10% for retail investors

Objects of the IPO: Proceeds from the fresh issue will be utilised to augment the lender’s Tier 1 capital base to meet future capital requirements.

BLRM: ICICI Securities and Kotak Mahindra Capital Company are the book running lead managers to the issue. 

IPO allotment date: The shares of Utkarsh SFB are expected to allot on July 19.

IPO listing date: The share of Utkarsh SFB IPO will list on BSE and NSE on July 24.