Utkarsh Small Finance Bank Limited

Utkarsh Small Finance Bank Limited IPO Review, Date, Price, GMP

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 Date12 July 2023 to 14 July 2023
Issue TypeBook Built Issue IPO
Listing AtBSE NSE
Face Value10 Rs. Per Share
Price23-25 Rs.
Lot Size600
Issue Size 200,000,000 shares (Rs.500.00 Cr)
Fresh Issue 200,000,000 shares (Rs.500.00 Cr)
Listing Date24 July 2023

Utkarsh Small Finance Bank Limited IPO Timetable:

Opening Date12 July 2023
Closing Date14 July 2023
Allotment19 July 2023
Initiation of Refunds20 July 2023
Credit of Shares to Demat Account21 July 2023
Listing Date24 July 2023
* Date May Change

Company Financial Details:

Period EndedAssetsRevenueProfit After TaxNet WorthBorrowings
31 March 20209,404.321,406.18186.741,019.502,675.04
31 March 202112,137.911,705.84111.821,368.352,607.83
31 March 202215,063.772,033.6561.461,572.302,571.94
31 March 202319,117.542,804.29404.502,000.322,349.48
Amount In Crores

AS OF NOW, the GMP OF Utkarsh Small Finance Bank Limited is Around 15 Rs.

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