UTKARSH SMALL FINANCE BANK LIMITED
₹ 23 - ₹ 25
12-Jul-2023 - 14-Jul-2023
₹ 15000.00

/ 600 Shares

UTKARSH SMALL FINANCE BANK LIMITED

12-Jul-2023 - 14-Jul-2023

₹ 23 - ₹ 25

Price Band

₹ 15000.00

Minimum Investment

600

Bid Lot

198,000,000

Shares

  • Face Value - ₹ 10/- Per Share

  • Listing at NSE BSE

  • 33,000 Application Required in Retail for 1 Time.

  • Registrar : KFin Technologies Limited

IPO Details

Fresh Issue of Equity Shares aggregating upto ? 500 Cr

Category % Shares/Amount
QIB 75% 148,500,000 Shares Rs. 371.25 Cr.
HNI 1 5% 9,900,000 Shares Rs. 24.75 Cr @ 1179 Forms 1x
HNI 2 10% 19,800,000 Shares Rs. 49.50 Cr @ 2357 Forms 1x
Retail 10% 19,800,000 Shares Rs. 49.50 Cr @ 33000 Forms 1x
Employee 0% 2,000,000 Shares Rs. 5.00 Cr

ICICI Securities, Kotak Mahindra Capital

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
33000 1179 2357

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 600 ₹ 15,000
Retail (Upto 2 Lakh) 13 7800 ₹ 195,000
S-HNI (2 Lakh to 10 Lakh) 14 8400 ₹ 210,000
S-HNI (2 Lakh to 10 Lakh) 66 39600 ₹ 990,000
B-HNI (Above 10 Lakh) 67 40200 ₹ 1,005,000

IPO Timeline

  • Open Date

    12-Jul-2023

  • Close Date

    14-Jul-2023

  • Basis of Allotment Date

    19-Jul-2023

  • Initiation of Refunds

    20-Jul-2023

  • Credit Shares to Demat A/c

    21-Jul-2023

  • IPO Listing Date

    24-Jul-2023

Subscription as on
14-Jul-2023 23:27

Category Book Size Subscription No. of Times
QIB 59,400,000 ₹ 148.50 Cr. 2,918,509,200 ₹ 7296.27 Cr. 49.13x
HNI (<10 LAKH) 9,900,000 ₹ 24.75 Cr. 305,277,000 ₹ 763.19 Cr. 30.84x
HNI2 (>10 LAKH) 19,800,000 ₹ 49.50 Cr. 732,088,200 ₹ 1830.22 Cr. 36.97x
RETAIL 19,800,000 ₹ 49.50 Cr. 652,713,600 ₹ 1631.78 Cr. 32.97x
Total 108,900,000 4,608,588,000 42.32x
Category Book Size Subscription No. of Times
QIB 59,400,000 ₹ 148.50 Cr. 2,918,509,200 ₹ 7296.27 Cr. 49.13x
HNI (<10 LAKH) 9,900,000 ₹ 24.75 Cr. 305,277,000 ₹ 763.19 Cr. 30.84x
HNI2 (>10 LAKH) 19,800,000 ₹ 49.50 Cr. 732,088,200 ₹ 1830.22 Cr. 36.97x
RETAIL 19,800,000 ₹ 49.50 Cr. 652,713,600 ₹ 1631.78 Cr. 32.97x
Total 108,900,000 4,608,588,000 42.32x

*Excluding Anchor

Total No. of Application Approx : ~797743 (24.17 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • Utkarsh Small Finance Bank Limited ("Utkarsh SFB”) was incorporated on April 30, 2016. Promoted by Utkarsh CoreInvest Ltd (“UCL”), Utkarsh SFB is an SFB in India and recorded the 3rd fastest Gross Loan Portfolio growth between Fiscal 2019 and Fiscal 2023 among SFBs with Gross Loan Portfolio of more than ? 60 billion.  
  • The Bank offers a range of financial products and services that address the specific requirements of their customer segments. Their product portfolio includes asset products that they advance to customers located primarily in unbanked and underbanked areas; and liability products in the form of deposits that they source from customers across regions. 
  • Their operations are spread across India and are present in 26 States and Union Territories with 830 Banking Outlets and 15,424 employees, as of March 31, 2023. 27.35% of their Banking Outlets were located in Unbanked Rural Centres (“URCs”). As of March 31, 2023, they had 3.59 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar, Uttar Pradesh. Having arrangements with business correspondents (“BCs”) and direct selling agents (“DSAs”) they had tie-ups with 13 BCs to source customers and 321 DSAs to grow their asset portfolio. 
  • Utkarsh SFB leverages the use of technology to provide transactional ease through internet and mobile banking and as of March 31, 2023, 15,797 employees used handheld devices/digital services for onboarding 573,619 saving account customers. 
  • Bank’s Promoter, UCL, is an NBFC-CIC-NDSI in India and is backed by a number of institutional investors including British International Investment plc (previously known as CDC Group plc), RBL Bank Ltd, International Finance Corporation, NMI Frontier Fund KS, Lok Capital Growth Fund, SIDBI, HDFC Life Insurance Co Ltd, HDFC Ergo General Insurance Co Ltd, ICICI Prudential Life Insurance Ltd, Faering Capital India Evolving Fund, Hero Enterprises Partner Ventures, responsAbility Participations Mauritius, Shriram Life Insurance Co Ltd, and Aavishkaar Bharat Fund.
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Strengths

  • Sound understanding of microfinance segment and presence in rural and semi-urban areas; 
  • Growing deposits with focus on retail deposits;
  • Diversified distribution network with significant cross-selling opportunities;
  • Focus on risk management and effective operations;
  • Stable growth with cost efficient operational performance;
  • Leadership complementing the strengths.

Company Promoters

Parveen Kumar Gupta is the part time Non - Executive Chairman and Independent Director of the Bank. Govind Singh is the Managing Director and Chief Executive Officer of the Bank. Kajal Ghose is the Independent Director of the Bank. Kalpana Prakash Pandey is the Independent Director of the Bank. Chandra Shekhar Thanvi is the nominee Director of the Bank Nagesh Dinkar Pinge is the Independent Director of the Bank Muralidharan Rajamani is the Non-Executive Director of the Bank Ajay Kumar Ka

Company Financials

Utkarsh Small Finance Bank Limited Financial Information (Restated)
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
Amount in ? Crore

Objects of the Issue

  • The Utkarsh Small Finance Bank Limited proposes to utilize the Net Proceeds from the Issue towards augmenting its Tier - 1 capital base to meet its future capital requirements. Further, the proceeds from the Issue will also be used towards meeting the expenses in relation to the Issue.

How to Apply

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  • Step 01 :

    Once you create your account, Login to Us.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with Us, in just a few clicks your application is processed. You can bid for any IPO through Us, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
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  • Enter the number of shares you wish to buy, as per the lot size.
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  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
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