Utkarsh SFB shares listed at 60% premium on D-street

21 Jul 2023 , 10:00 AM

Utkarsh Small Finance Bank’s shares, which were open for subscription from July 12-14, have been listed with a substantial premium on both NSE and BSE. On NSE, the shares debuted at Rs 40, representing a 60% premium over the issue price of Rs 25. On BSE, the shares were listed at Rs 39.95, marking a 59.80% increase from the issue price.

The company’s initial public offering (IPO) received an impressive response from investors, being oversubscribed 101.91 times during the subscription period. Qualified institutional buyers showed significant interest, subscribing 124.85 times the allocated quota. High net worth individuals and retail investors also participated actively, subscribing 81.64 times and 72.11 times the reserved portions, respectively. Even the portion set aside for employees witnessed strong demand, being oversubscribed 16.58 times.

Before the IPO opened, Utkarsh Small Finance Bank raised Rs 223 crore from anchor investors. The bank was incorporated in 2016 and started its operations in 2017. Its product suite comprises a range of deposit products, including savings accounts, salary accounts, current accounts, recurring and fixed deposits, as well as locker facilities.