Utkarsh Small Finance Bank IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jul 14, 2023The financial segment of any country has a vital role in the overall economy’s growth. There are certain entities that cater to high-level companies whose financial requirements are enormous, whereas there are certain entities that offer assistance to small-scale companies and individuals. They reach the people who do not have access to many options.
One such company in India is Utkarsh Small Finance Bank, engaged in the financial sector operating in the form of a Small Finance Bank.
The company is now coming up with an IPO in the Indian Market to raise funds and list its shares on the stock market.
Utkarsh Small Finance Bank IPO has been revised from what was filed earlier.
We’ll see what this IPO holds for the investors in this Utkarsh Small Finance Bank IPO Review.
| Face Value | Rs 10 |
| Price Band | Rs 23 to Rs 25 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 600 Shares |
| Listing Date | 24 July 2023 |
| Offer for Sale | Rs Cr. |
| Fresh Issue | Rs 500.00 Cr. |
| IPO Size | Rs 500.00 Cr. |
| Tick Size | 1 |
Utkarsh Small Finance Bank IPO Overview
Utkarsh Small Finance Bank IPO was filed with SEBI to raise Rs. 1,350 crores in funds via a fresh issue and an offer for sale. The sum has been brought down to Rs. 500 crores which will be raised by a Fresh Issue only.
The IPO size has been slashed by about 63% in the revised IPO filing.
Now, the company will be raising funds of Rs. 500 crores from the IPO, and draft papers have been filed for it again.
Utkarsh Small Finance Bank IPO Important Dates
| Events | Date |
| IPO Opening Date | 12 July 2023 |
| IPO Closing Date | 14 July 2023 |
| Basis of Allotment Finalization | 19 July 2023 |
| Refunds Initiation | 20 July 2023 |
| Credit of Shares to Demat Account | 21 July 2023 |
| Share Listing Date | 24 July 2023 |
IPO dates play a relevant role in the IPO proceedings. The right date or time for the opening can ensure the success of an IPO. Every company analyses the market conditions, its competitions, and major events around the IPO opening and arrives at a suitable date thereafter.
These types of factors indirectly have their impact on the occurrence. Utkarsh Small Finance Bank IPO Dates, too, will be determined by the company after due consideration of important events around the world.
Utkarsh Small Finance Bank IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 23 to Rs 25 |
| Offer for Sale | Rs Cr. |
| Fresh Issue | Rs 500.00 Cr. |
| IPO Size | Rs 500.00 Cr. |
Utkarsh Small Finance Bank IPO Size will be constituted by the shares and the sum raised by the issue of Equity Shares to the public. The Utkarsh Small Finance Bank IPO Price will be determined through the Book Building Process. The face value of the equity shares is Rs. 10 each.
The equity shares are proposed to be listed on the mainboard exchanges – BSE and NSE.
Utkarsh Small Finance Bank IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 10 Jul 2023 | Rs 12 | NA | NA |
| 09 Jul 2023 | Rs 12 | NA | NA |
| 07 Jul 2023 | NA | NA | NA |
The grey market is a marketplace where the Equity Shares of a company are bid and offered outside the stock market. Trading in this market is not illegal but since the market is unofficial, there are no rules and regulations.
Grey Market Premium is the premium amount paid for shares to trade in the Grey Market.
Utkarsh Small Finance Bank IPO GMP will be updated according to the trading of the Grey Market.
Utkarsh Small Finance Bank IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 12th Jul | 0.04x | 9.01x | 15.21x | 3.02x | 5.20x |
| 2nd Day – 13th Jul | 4.22x | 30.18x | 40.21x | 9.36x | 17.69x |
| 3rd Day – 14th Jul | 6.06x | 41.03x | 49.61x | 12.00x | 23.31x |
| Shares Offered or Net Issue | 59,400,000 | 29,700,000 | 19,800,000 | 2,000,000 | 200,000,000 |
IPO Subscription is the point when the issuer company opens the IPO and invites bids from the investors. The bids usually place with the help of the ASBA process. For retail investors only, the UPI option is also available to apply for the IPO.
Utkarsh Small Finance Bank IPO Subscription will open after SEBI approve the IPO and the RHP is duly filed.
Utkarsh Small Finance Bank IPO Allotment Status
Thus, Utkarsh Small Finance Bank IPO Allotment will be an important step in the IPO process. The company will be crediting the shares in the accounts of the successful bidders. The allotment will take place online only. Every bidder is required to have a Demat account before applying for this IPO.
Utkarsh Small Finance Bank IPO Live Performance
The IPO date for this IPO is not declared as of now. Once the IPO is open, you will be able to check Utkarsh Small Finance Bank IPO Performance from anywhere and at any time.
Subscribe to Utkarsh Small Finance Bank IPO – Open Free Demat Account Now!
Utkarsh Small Finance Bank – Company Review
Utkarsh Small Finance Bank India is in the business of offering banking and financial assistance in the form of Small Finances. At first, it start as Micro Finance Institution, which later converts into a Small Finance Bank in 2016.
The company’s operations have widened to a large scale in these years. They currently have 686 banking outlets in over 22 states and union territories.
They extend financial help to the people from the underprivileged sections in the states of Uttar Pradesh and Bihar.
The company operates from Varanasi and has a huge spread in most of the states of India.
Products or Services
Being a Small Finance Bank, Utkarsh Small Finance Bank delivers a range of services to its customers.
From facilities to a variety of accounts and cards to services like insurance and investment choices, you can get all your financial requirements sort under one roof.
The bank offers easy loan facilities and also remittance and payments.
The bank’s services primarily divide into two broad categories – Personal and Business.
Promoters and Holding
The Promoter of Utkarsh Small Finance Bank is Utkarsh Coreinvest Limited.
The Management of the company consists of:
- Parveen Kumar Gupta, in the position of Part-time non – executive chairman and Independent Director
- Govind Singh, in the position of Managing Director and chief executive officer
- Kajal Ghose, in the position of Independent Director
- Chandra Shekhar Thanvi, in the position of Nominee Director
- Kalpana Prakash Pandey, in the position of Independent Director
- Nagesh Dinkar Pinge, in the position of Independent Director
- Muralidharan Rajamani, in the position of Non – executive Director
- Ajay Kumar Kapur, in the position of Independent Director
- Abhijeet Bhattacharjee, in the position of chief information officer
- Alok Pathak, in the position of chief risk officer
- Arun Raman, in the position of head – Operations
- Hitain Sharma, in the position of chief human resources officer
- Mukund Barsagade, in the position of chief financial officer
- Muthiah Ganapathy, in the position of Company Secretary and Compliance Officer
- Mr Sachin Patange, in the position of a chief compliance officer
Is Utkarsh Small Finance Bank Good for Investment?
Starting its journey more than a decade ago as a Micro Finance Institution, Utkarsh Small Finance Bank has today emerged as the most profitable small finance bank in India. The company provides services to underprivileged individuals and businesses and offers them a wide range of services.
The company has widened its wings and currently covers most states within. They have over 686 banking outlets in different parts of the country.
You can open accounts, make deposits, and withdrawals, have banking cards, avail of insurance and investment services, apply for and get loans, and much more with Utkarsh Small Finance Bank.
Utkarsh Small Finance Bank Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Assets | 1,50,637.70 | 1,21,379.12 | 94,043.16 |
| Revenue | 20,336.46 | 17,058.36 | 14,061.80 |
| Expense | 19,721.84 | 15,940.21 | 12,194.37 |
| Profit After Tax | 2,687.10 | 2,572.98 | 1,964.53 |
Utkarsh Small Finance Bank is a profitable entity, and its financial statements reflect a year-on-year profit record for the last three financial years. Let’s see these figures now.
The company’s total income in the last three financial years, 2022, 2021, and 2020 was Rs. 20,336.46 million, Rs. 17,058.36 million, and Rs. 14,061.80 million. The revenue has increased with every year’s operations.
The company’s profits in the last three financial years, 2022, 2021, and 2020 were Rs. 2,687.10 million, Rs. 2,572.98 million, and Rs. 1,964.53 million. The company has maintained a positive record of earnings in the past years.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | 0.70 | 1.46 | 2.49 |
The company’s EPS on 31st March 2022 was Rs. 0.70. Earlier, the value was Rs. 1.46 and Rs. 2.49 as of 31st March 2021 and 31st March 2020.
Utkarsh Small Finance Bank IPO Review
Utkarsh Small Finance Bank IPO is completely a Fresh Issue of Equity Shares where the company is planning to raise over Rs. 500 crores.
No promoters or investors will be offloading their shares and seeking exit through the IPO. The company is aiming to utilize the proceeds for entering and strengthening its Tier – 1 capital base and fund future capital requirements.
The IPO will bring new opportunities in the form of larger exposure and widening the area of operations for the company.
Utkarsh Small Finance Bank IPO Details
Here are a few more details you need to know before investing in Utkarsh Small Finance Bank IPO –
Utkarsh Small Finance Bank IPO Issue Object
Utkarsh Small Finance Bank has proposed diverse objectives for making the IPO offer and some of the objectives are:
Our Bank proposes to utilize the Net Proceeds from the Issue towards augmenting its Tier–1 capital base to meet its future capital requirements. Further, the proceeds from the Issue will use towards meeting the expenses in relation to the Issue.
Utkarsh Small Finance Bank IPO – Basis of Offer Price
The company determine the issue price determine in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Sound understanding of microfinance segment and presence in rural and semi-urban areas;
- Growing deposits with a focus on retail deposits;
- Diversified distribution network with significant cross-selling opportunities;
- Focus on risk management and effective operations; and
- Stable growth with cost-efficient operational performance;
- Leadership complements our strengths.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 0.70 | 3.91 | 17.56 |
| 31-Mar-21 | 1.46 | 8.17 | – |
| Mar-20 | 2.49 | 18.32 | – |
Utkarsh Small Finance Bank IPO Lead Managers
Here is the list of Lead managers –
- ICICI Securities Limited
- Kotak Mahindra Capital Company Limited
Utkarsh Small Finance Bank IPO Registrar to offer
Check out the details of the registrar here –
KFin Technologies Limited
Selenium, Tower-B, Plot 31 & 32, Financial District,
Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032,
Telangana, India
Tel: +91 40 6716 2222 / 1800 345 4001
E-mail: utkarsh.ipo@kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Website: www.kfintech.com
Contact person: Mr M. Murali Krishna
SEBI registration no.: INR000000221
Utkarsh Small Finance Bank IPO – Other Details
- Statutory Auditor – Haribhakti & Co. LLP
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – HDFC Bank Limited
Utkarsh Small Finance Bank IPO – Conclusion
The Utkarsh Small Finance Bank IPO is a banking company that has been operating for over a decade. The company transformed its operations from one shell to another in order to serve more and more people.
The company’s current financial status is favourable and has high growth prospects. They are widening their operational area and helping customers attain their goals.
It is a good investment opportunity for investors to invest in a Small finance bank.
To Subscribe to Utkarsh Small Finance Bank IPO – Open Demat Account Now!
Utkarsh Small Finance Bank IPO Review FAQs
Check out the FAQs on Utkarsh Small Finance Bank IPO –
What is the Issue Size of Utkarsh Small Finance Bank IPO?
The Company is making an initial public offer of 200,000,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Utkarsh Small Finance Bank IPO?
The price band for this particular IPO ranges between Rs 23 to Rs 25. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Utkarsh Small Finance Bank IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 12 July 2023, while the closing date is set at 14 July 2023.
What is the Utkarsh Small Finance Bank IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 19 July 2023, refund initiation is on 20 July 2023, credit of shares is on 21 July 2023, and share listing date is on 24 July 2023.
What is the Utkarsh Small Finance Bank IPO Listing Date?
Shares of this company shall be listed in the exchanges 24 July 2023. The date, when the listing would be done, is stagnant on 24 July 2023.
Who is the Registrar of Utkarsh Small Finance Bank IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Utkarsh Bank IPO?
Here are the promoters of this IPO – UTKARSH COREINVEST LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Utkarsh Small Finance Bank IPO?
They have obtained the GMP of this IPO and it is Rs. 12. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Utkarsh Small Finance Bank IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Utkarsh Small Finance Bank Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 2,687.10, 2021 is 2,572.98, 2020 is 1,964.53.
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