Utkarsh Small Finance Bank Limited is an SFB, which stands for Small Finance Bank, serving in India. Utkarsh Small Finance Bank has registered the second fastest growth in Assets Under Management (AUM) between Fiscal year 2019 and 2022 among SFBs with AUM exceeding ₹50 billion. This data is based on a CRISIL report.
Utkarsh Small Finance Bank Limited’s promoter is Utkarsh CoreInvest Limited, which initially operated as an NBFC (Non-Banking Financial Company) focused on providing microfinance to unserved and underserved segments in the states of Uttar Pradesh and Bihar. The bank’s headquarters are located in Varanasi, Uttar Pradesh.
Utkarsh Small Finance Bank Limited has strategically grown its procedures in states where it can leverage the microfinance experience of Utkarsh CoreInvest Limited. Utkarsh Small Finance Bank has a presence in 22 states and union territories across India. As of March 31, 2022, the bank manages 686 Banking Outlets and employs 12,617 individuals.
Utkarsh Small Finance Bank has been diversifying its product portfolio to decrease dependence on microfinance and grow its secured loan portfolio. Utkarsh Small Finance Bank delivers a range of financial products and services that targets specific customer segments which include micro banking loans, retail loans (both secure and unsecured), wholesale lending, housing loans with a main focus on affordable housing, commercial vehicle, construction equipment loans, and gold loans.
Utkarsh Small Finance Bank offers savings accounts, current accounts, and various term and recurring deposit accounts. Also, it provides non-credit offerings such as ATM-cum-debit cards, bill payment systems, and distribution of third-party point-of-sales terminals, mutual funds, and insurance products.
Utkarsh Small Finance Bank Limited is supported by different institutional investors, including British International Investment Plc (previously known as CDC Group Plc), RBL Bank Limited, International Finance Corporation, and many others. These investors have provided support to Utkarsh CoreInvest Limited, the bank’s promoter, which is an NBFC-CIC-NDSI in India.
Utkarsh Small Finance Bank Limited IPO Complete Details:
| IPO Date | 12 July 2023 to 14 July 2023 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE NSE |
| Face Value | 10 Rs. Per Share |
| Price | 23-25 Rs. |
| Lot Size | 600 |
| Issue Size | 200,000,000 shares (Rs.500.00 Cr) |
| Fresh Issue | 200,000,000 shares (Rs.500.00 Cr) |
| Listing Date | 24 July 2023 |
Utkarsh Small Finance Bank Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 12 July 2023 |
| Closing Date | 14 July 2023 |
| Allotment | 19 July 2023 |
| Initiation of Refunds | 20 July 2023 |
| Credit of Shares to Demat Account | 21 July 2023 |
| Listing Date | 24 July 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Borrowings |
|---|---|---|---|---|---|
| 31 March 2020 | 9,404.32 | 1,406.18 | 186.74 | 1,019.50 | 2,675.04 |
| 31 March 2021 | 12,137.91 | 1,705.84 | 111.82 | 1,368.35 | 2,607.83 |
| 31 March 2022 | 15,063.77 | 2,033.65 | 61.46 | 1,572.30 | 2,571.94 |
| 31 March 2023 | 19,117.54 | 2,804.29 | 404.50 | 2,000.32 | 2,349.48 |
AS OF NOW, the GMP OF Utkarsh Small Finance Bank Limited is Around 15 Rs.