New Delhi: Utkarsh Small Finance Bank is all set to launch its Initial Public Offering (IPO) from July 12, 2023, to July 14, 2023. The bank aims to raise capital of Rs 500 crore through equity shares and provide investors with an opportunity to participate in its growth story.

This article provides an overview of Utkarsh Small Finance Bank’s IPO, including key details such as issue size, eligibility & allocation, registrar, GMP, and more.

Utkarsh Small Finance Bank IPO Issue size:

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The IPO will offer 21,73,91,304 equity shares of Utkarsh Small Finance Bank. The price band for the shares is set at ₹23.00-₹25.00 per share, with a face value of ₹10.00. The minimum bid quantity is 600 shares, and the market lot is also set at 600 shares. The tick size for bidding is ₹1.00.

Utkarsh Small Finance Bank IPO Eligibility and Allocation:

Qualified Institutional Investors (QIBs) can bid for a maximum quantity of 215,217,000 shares, while Non-Institutional Investors (NIIs) can bid for up to 53,803,800 shares. This allocation ensures a fair distribution of shares across different investor categories. The allotment process will probably start on July Wednesday, July 19.

Utkarsh Small Finance Bank IPO Listing Date:

It is supposed to list on BSE and NSE on Monday, July 24, 2023.

Utkarsh Small Finance Bank IPO Lead Managers:

Utkarsh Small Finance Bank has appointed two renowned Book Running Lead Managers (BRLMs) for the IPO. The first BRLM is ICICI Securities Limited, a leading financial institution with expertise in managing IPOs. The second BRLM is Kotak Mahindra Capital Company Limited, which also brings extensive experience in capital market transactions.

Utkarsh Small Finance Bank IPO Registrar:

The registrar for Utkarsh Small Finance Bank’s IPO is KFIN Technologies Limited (formerly known as KFIN Technologies Private Limited). The registrar is responsible for handling the share allocation process, refund, and other related activities.

Utkarsh Small Finance Bank IPO Sponsor Banks:

Utkarsh Small Finance Bank has secured sponsorship from two prominent banks for its IPO. The first sponsor bank is ICICI Bank Limited, a leading private sector bank in India. The second sponsor bank is Axis Bank Limited, known for its expertise in financial services.

 The Utkarsh Small Finance Bank IPO offers investors a chance to invest in a promising player in the small finance banking sector. With a reasonable price band, strong lead managers, and support from reputable sponsor banks, the IPO presents a compelling investment opportunity. However, investors are advised to carefully analyze the IPO’s prospectus and consult with financial advisors before making any investment decisions.