Utkarsh Small Finance Bank Limited will be offering equity shares through a book built issue as part of their upcoming Initial Public Offering (IPO). The IPO is scheduled to take place from July 12 to July 14, 2023. The issue price for each share is set in the range of ₹23 to ₹25. Interested investors can place a minimum order quantity of 600 shares.
With a face value of Rs. 10, the IPO will include the sale of 200,000,000 shares. This offering has the potential to generate up to ₹500 crore in funds for Utkarsh Small Finance Bank Limited. Let’s learn more about their initial public offering scheduled for July of 2023.
About Utkarsh Small Finance Bank Limited
Incorporated in 2016, Utkarsh Small Finance Bank Limited is a leading Small Finance Bank (SFB) in India, showcasing remarkable AUM growth among SFBs with AUM exceeding Rs. 50 billion in Fiscal 2019 and Fiscal 2022. It originated as a Micro Finance Institution (MFI) in Varanasi in 2009, expanding its operations to become an SFB subsidiary on April 30, 2016. With a presence across 26 states and Union Territories, Utkarsh offers a diverse range of asset products, including microbanking loans, retail loans, housing loans, and more. It also provides comprehensive banking services such as savings accounts, current accounts, and term/recurring deposit accounts, along with non-credit offerings like ATM-cum-debit cards, bill payment systems, and mutual funds. Boasting 830 banking outlets and a dedicated team of 15,424 employees, Utkarsh Small Finance Bank serves a vast customer base of 3.59 million, supported by 13 Business Correspondents (BC) and 321 Direct Selling Agents (DSA).
Utkarsh Small Finance Bank IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 12th July 2023 |
| Issue Closes | 14th July 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 23 to Rs 25 Per Share |
| Issue Size | 200,000,000 Shares (Rs 500 crores) |
| Minimum Order Quantity | 600 Shares |
| Listing | BSE, NSE |
Purpose of the Issue
The Company’s proposed utilization of funds includes:
- To utilize the Net Proceeds from the Issue towards augmenting its Tier – 1 capital base to meet its future capital requirements
- General corporate purpose.
- To meet issue expenses.
Utkarsh Small Finance Bank — Company Contact Details
- Registered & Corporate Office:Utkarsh Tower, NH – 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua, Varanasi – 221 105
- Telephone: +91 542 660 5555
- Website: https://www.utkarsh.bank/
Utkarsh Small Finance Bank IPO – Lead Managers of the Issue
ICICI Securities Limited
- Office Address: ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai 400 020
- Telephone: +91 22 6637 7178
- Email: subir.saha@icicisecurities.com
Kotak Mahindra Capital Company Limited
- Office Address: 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra(E), Mumbai 400051
- Telephone: +91-22-4336 0000
- Email: ajay.vaidya@kotak.com
Utkarsh Small FinanceBank Limited IPO – Registrar of the Issue
Kfin Technologies Limited
- Telephone: 04067162222, 04079611000
- Email: utkarsh.ipo@kfintech.com
- Website: https://ris.kfintech.com/ipostatus/
Utkarsh Small Finance Bank Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
