About the Company
- Website: www.utkarsh.bank
- Utkarsh Small Finance Bank is a financial institution having a pan-India presence.
- It operates as a small finance bank, focusing on serving the unbanked and underbanked sections of society.
- The bank offers various banking products and services, including savings accounts, current accounts, fixed deposits, loans, and digital banking solutions.
- It aims to promote financial inclusion and provide access to formal banking services.
- Utkarsh Small Finance Bank primarily serves individuals and small businesses in rural and semi-urban areas of India.
- The bank’s goal is to support economic development and upliftment by providing financial services to underserved communities.
- Utkarsh Small Finance Bank is committed to customer satisfaction and strives to provide efficient and reliable banking solutions.
- It follows regulatory guidelines set by the Reserve Bank of India (RBI) for small finance banks.
- The bank has a dedicated team of professionals who work towards achieving its vision and mission.
- Utkarsh Small Finance Bank continues to expand its reach and impact in the financial sector, contributing to the growth of India’s economy.
Utkarsh SFB, headquartered in Varanasi, is set to launch its initial public offering (IPO) of fresh shares valued at Rs 500 crore. All the proceeds from this IPO will directly benefit the bank. Established in 2016, Utkarsh SFB began its operations in 2017 and offers a comprehensive range of deposit products, including savings accounts, salary accounts, current accounts, recurring and fixed deposits, as well as locker facilities.
Among its peers, this bank has achieved the third highest gross loan portfolio growth between fiscal years 2019 and 2023, accumulating a loan portfolio exceeding Rs 6,000 crore.
Additionally, it boasts the second highest provision coverage ratio among Small Finance Banks (SFBs) during fiscal year 2023. With a focus on rural and semi-urban areas, Utkarsh SFB has garnered a customer base of 3.59 million individuals, primarily concentrated in rural and semi-urban regions, as of March 2023.
Unlike Non-Banking Financial Companies (NBFCs) that expand horizontally with a specific product focus, such as vehicle loans, microfinance loans, or housing finance, SFBs have the flexibility to expand vertically and horizontally, offering multiple loan and deposit products. Although the bank had initially considered a pre-IPO placement of Rs 100 crore, it did not execute the plan.
The proceeds generated from this fresh issue will be utilized to strengthen the bank’s Tier 1 capital base and fulfill future capital requirements. In the fiscal year ending March, the company recorded a total income of Rs 2,804 crore, with a net profit of Rs 404 crore for the same period.
ICICI Securities and Kotak Mahindra Capital Company have been appointed as the book running lead managers for this IPO.
Utkarsh Small Finance Bank IPO Dates
Latest and updated information about Drone Destination SME IPO. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| IPO Open Date | 12-07-2023 |
| IPO Close Date | 14-07-2023 |
| Basis of Allotment Finalisation Date* | 19-07-2023 |
| Refunds Initiation* | 20-07-2023 |
| Credit of Shares to Demat Account* | 21-07-2023 |
| IPO Listing Date* | 24-07-2023 |
Utkarsh Small Finance Bank Day-wise IPO GMP Trend
| GMP Date | GMP | S2S | Estimated Listing Price | Last Updated Time |
|---|---|---|---|---|
| 18-07-2023 | ₹15 | ₹40 (60.00%) | 18-Jul-2023 11:00 AM | |
| 17-07-2023 | ₹15 | ₹40 (60.00%) | 17-Jul-2023 08:00 PM | |
| 16-07-2023 | ₹15 | ₹40 (60.00%) | 16-Jul-2023 08:00 PM | |
| 15-07-2023 | ₹16 | ₹41 (64.00%) | 15-Jul-2023 08:00 AM | |
| 14-07-2023 | ₹16 | ₹41 (64.00%) | 14-Jul-2023 09:30 PM | |
| 13-07-2023 | ₹14 | ₹39 (52.00%) | 13-Jul-2023 08:30 PM | |
| 12-07-2023 | ₹16 | ₹38 (64.00%) | 12-Jul-2023 02:28 PM | |
| 11-07-2023 | ₹16 | ₹38 (64.00%) | 11-Jul-2023 07:30 PM | |
| 10-07-2023 | ₹14 | – | ₹41 (52.00%) | 10-Jul-2023 04:23 PM |
| 09-07-2023 | ₹16 | – | ₹38 (64.00%) | 9-Jul-2023 03:25 PM |
Utkarsh Small Finance Bank IPO Live Subscription (NSE + BSE)
| Day | QIB | NII | SNII (Below ₹10L) | BNII(Above ₹10L) | RII | EMP | |
|---|---|---|---|---|---|---|---|
| Number of share offered | 5,94,00,000 | 2,97,00,000 | 99,00,000 | 1,98,00,000 | 1,98,00,000 | 20,00,000 | |
| 1 | 12th Jul 2023 | 0.00x | 2.50x | 3.23x | 2.14x | 6.23x | 0.88x |
| 2 | 13th Jul 2023 | 4.22x | 30.18x | 34.48x | 28.04x | 40.21x | 9.36x |
| 3 | 14th Jul 2023 | 135.71x | 88.74x | 82.57x | 91.83x | 78.38x | 18.02x |
Utkarsh Small Finance Bank IPO Details
| IPO Issue Price: | ₹23.00-25.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not more than 10% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹500.00 Cr |
| Fresh Issue: | ₹500.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 84.75% |
| Promoter Holding Post IPO: | 69.28% |
Utkarsh Small Finance Bank IPO Lot Size
| IPO Activity | Date |
|---|---|
| Issue Price | ₹23.00-25.00 |
| Market Lot: | 600 Shares |
| 1 Lot Amount: | ₹15000 |
| Min Small HNI Lots(2-10 Lakh): | 8400 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 40200 shares (67 lots) |
Utkarsh Small Finance Bank Financials for past 3 Years
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 9,404.32 | 1,406.18 | 186.74 | 1,019.50 | 260.23 | 2,675.04 |
| 31-Mar-21 | 12,137.91 | 1,705.84 | 111.82 | 1,368.35 | 520.02 | 2,607.83 |
| 31-Mar-22 | 15,063.77 | 2,033.65 | 61.46 | 1,572.30 | 676.78 | 2,571.94 |
| 31-Mar-23 | 19,117.54 | 2,804.29 | 404.50 | 2,000.32 | 1,104.42 | 2,349.48 |
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