Utkarsh Small Finance Bank IPO allotment out: Check application status & latest GMP

The allotment status for the initial public offering (IPO) of Utkarsh Small Finance Bank (SFB) has been announced. The Rs 500 crore primary offering had received a robust response from the investors during the three-day bidding process, which opened between July 12-14.

The IPO of Utkarsh SFB, which was sold in the range of Rs 23-25 apiece, was overall subscribed 110.77 times. The portion for qualified institutional bidders was booked 135.71 times, while the non-institutional investors' category was subscribed 88.74 per cent. The quota reserved for retail investors was subscribed 78.38 times, while the employee portion fetched 18.02 times bids.

Grey market premium (GMP) of Utkarsh Small Finance Bank has remained largely stable. Last head, Utkarsh Small Finance Bank was commanding a premium of Rs 15 in the grey market, which was around Rs 16 on Tuesday. The current grey market signal suggests a listing of 60 per cent for the investors receiving the allotment.

Watch: Utkarsh SFB share allotment today; GMP steady, here's how to check allotment status and latest grey market premium

Incorporated in 2016, Utkarsh Small Finance Bank is a small finance bank in India, which recorded the second fastest AUM growth in the years financial year 2018-19 and financial year 2021-2022. The private lender has an asset under management (AUM) of more than 6,000 crore.

Majority of the brokerage firms are positive on the issue and suggest subscribing to it on a long-term basis, citing its attractive pricing, strong balance sheet and sound business fundamentals. However, a select analyst has flagged geographical concentration as the key threat to its business.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is www.bseindia.com/investors/appli_check.aspx. One can check the equity option under issue type and select the company name from the dropbox. Then, one just needs to fill in the application number and PAN card ID to check the allotment status.

The second alternative to check the allotment status is visiting the registrar's portal, which is KFin Technologies Limited in the case of Cyient DLM. Investors can also check the allotment status on the website of the registrar at https://kosmic.kfintech.com/ipostatus to see if they have received the shares or not.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Thursday, July 20. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Friday, July 21. The listing of the IPO is likely on Monday, July 24.

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