IPO of a small financial bank in Utkarsh opens today July 12th. Check price band, issue size listing date and gmp – News18 Hindi

Utkarsh Small Finance Bank IPO: Today Utkarsh Small Finance Bank IPO will be launched worth 500 crore rupees. Under the offering, 20 crore shares with a par value of Rs. 10 will be issued. You can invest in this IPO until July 14th. The Utkarsh SFB IPO price range has been set at 23-25 ​​rupees. 75 percent of the issue is reserved for Qualified Institutional Buyers (QIB), 15 percent for non-institutional investors and 10 percent for private investors.

Ahead of the IPO, Utkarsh Small Finance Bank raised Rs. 222.75 crore from 20 anchor investors. The company said in its filing with the exchanges that it had completed the allotment of shares worth 8.91 crore to anchor investors to an upper price band of Rs. 25 per share. The money raised through the IPO will be used by the company to increase its Tier 1 capital base and to cover the costs associated with the offering.

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Must invest at least 15,000 rupees
IPO shares of Utkarsh Small Finance Bank traded at a premium of Rs. 15 to the peak price on the gray market on Tuesday, according to a Moneycontrol report. You can bid for the IPO in lot sizes of 600 shares. Retail investors are required to invest a minimum of Rs. 15,000 for 1 plot and a maximum of Rs. 1.95 lakh for 13 plots, which is the top price of the price range.

Listing and Allocation
Utkarsh SFB shares will be allocated on July 19th. If you don’t get the shares, your money will be refunded on July 20th. The shares will be credited to the demat account of the investors who will be allocated the shares on July 21st. The shares are expected to list on the NSE and BSE on July 24.

How is the financial health of the bank?
In fiscal 2020, the company had a net profit of Rs. 187 crore, which fell to Rs. 112 crore in the next fiscal year. It then fell further to Rs.61.46 lakh rupees in FY2022. However, in the last financial year, the situation improved and the company recorded a net profit of Rs.4.04 crore in the period 2022-23. The bank’s income has steadily increased. Revenue increased to Rs. 28.04 crore in FY 2022-23 from Rs. 14.06 crore in FY 2020, Rs. 17.06 crore in FY 2021 and Rs. The Bank’s services are mainly aimed at semi-urban and rural areas. By the end of March 2023, the bank had 35.9 lakh customers.

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