Utkarsh Small Finance Bank (SFB), whose Rs 500-crore IPO received a robust response from the investors during the 3-day bidding process, is likely to finalise the basis of allotment of shares on Wednesday, July 19, 2023. The issue was open for subscription between July 12-14 in the price range of Rs 23-25 per share
Utkarsh SFB IPO received a strong response from the investors and 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%. The quota reserved for retail investors was subscribed 78.38 times, while the employee portion fetched 18.02 times bids
Utkarsh Small Finance Bank Grey market premium (GMP) has seen some strength, but has been stable lately. Last heard, Utkarsh Small Finance Bank shares were commanding a grey market premium of Rs 15 apiece
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:·
- Visit https://www.bseindia.com/
investors/appli_check.aspx
- Under the issue type, click Equity and select Utkarsh Small Finance Bank under the issue name
- Enter the application number, PAN ID and click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies (https://kosmic.kfintech.com/ipostatus), the registrar to the issue. Go to the web portal, and select the IPO in dropbox whose name will be populated only if the allotment is finalised. Select either one of the three modes: Application number, Demat Account number, or PAN ID. In application type, select between ASBA and non-ASBA and enter the details of the mode you selected. Fill the captcha and 'Submit.'
Bidders who could not get allotment in the Utkarsh Small Finance Bank IPO may see the initialisation 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
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
Utkarsh Small Finance Bank aims to utilise the net proceeds from the IPO towards augmenting its Tier 1 capital base to meet its future capital requirements and towards meeting the expenses in relation to the issue
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