Utkarsh Small Finance Bank Limited IPO is set to launch on 12 July, 2023. The company initiated its business operations in the year 2016. The small finance banks assist the businesses and individuals in their financial requirements like giving cards, accounts and deposits, loans, insurance and investments etc. The company‘s customers can get hassle free top up balances, loans upto 50 Crore Rs with a 30 year tenure. It has a diversified loan portfolio and services which includes micro banking loans, wholesale lending, retail loans, housing loans, gold loans, commercial vehicle loans etc.
Utkarsh Small Finance Bank Limited IPO DETAILS
Utkarsh Small Finance Bank Limited IPO is set to launch on 12 July, 2023. The subscription timeline extends till 14 July, 2023. The size for the IPO is 500 Crore Rs. Shares issued through fresh issue mode are worth 500 Crore Rs. No Shares issued through offer for sale mode. The lot size is 600 shares and the price is 23 to 25 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is KFin Technologies Limited.
Tabular Description of Utkarsh Small Finance Bank Limited IPO
IPO OPENING DATE | 12 July, 2023 |
CLOSING DATE FOR IPO | 14 July, 2023 |
ISSUE TYPE | Book Built Issue |
Face Value per share | 10 Rs. per share |
IPO price band | 23 Rs to 25 per share |
LOT SIZE | 600 shares |
MINIMUM ORDER QUANTITY | 600 shares |
ISSUE SIZE | 500 Crore Rs. |
OFFER FOR SALE | No shares issued through offer for sale mode |
FRESH ISSUE | 500 Crore Rs. |
LISTING AT | NSE, BSE |
LISTING DATE | 14 July, 2023 |
Utkarsh Small Finance Bank Limited IPO : IMPORTANT DATES
IPO OPENING DATE | 12 July, 2023 |
CLOSING DATE FOR IPO | 14 July, 2023 |
IPO ALLOTMENT DATE | 19 July, 2023 |
REFUNDS | 20 July, 2023 |
DEMAT A/C CREDITED ON | 21 July, 2023 |
IPO LISTING DATE | 24 July, 2023 |
Utkarsh Small Finance Bank Limited IPO begins for subscription from 12 July, 2023. The IPO subscription would continue till 14 July, 2023. The allotment status for the shareholders who applied would come on 19 July, 2023. The refunds for the ones who did not get allotment would be initiated on 20 July, 2023. The DEMAT accounts of shareholders would be credited on 21 July, 2023. The listing of the company would be completed on 24 July, 2023.
Utkarsh Small Finance Bank Limited IPO : Lead Managers
The lead managers are :
- Kotak Mahindra Capital Company Limited
- ICICI Securities Limited
The minimum lot size for the company is decided at 600 shares. This holding accounts to 15000 Rs.. The maximum lot size is decided at 7800 shares. This amounts to 195000 Rs.. Hence the company’s final holdings would be set as :
Shares | Amount | |
Minimum | 600 shares | 15000 Rs. |
Maximum | 7800 shares | 195000 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
ASSETS | 12137 | 15063 | 19117 |
Revenue | 1705 | 2034 | 2804 |
PAT | 111 | 62 | 404 |
Utkarsh Small Finance Bank had an asset base of 12137 Crore Rs in 2021 which increased to 15063 Crore Rs in 2022 and 19117 Crore Rs in 2023. The revenue of the firm increased from 1704 Crore Rs in 2021 to 2034 Crore Rs in 2022 and 2804 Crore Rs in 2023. The profit of the company was 111 Crore Rs in 2021. However in 2022 the profits came down to 62 Crore Rs. But in 2023 the profit jumped to a mighty 404 Crore Rs.
PROS
- The Utkarsh Small Finance Bank assists the businesses and individuals in their financial requirements like giving cards, accounts and deposits, loans, insurance and investments etc.
- The company‘s customers can get hassle free top up balances, loans upto 50 Crore Rs with a 30 year tenure.
- It has a diversified loan portfolio and services which includes micro banking loans, wholesale lending, retail loans, housing loans, gold loans, commercial vehicle loans etc.
CONS
- The company works in a highly competitive segment.
Utkarsh Small Finance Bank Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Utkarsh Small Finance Bank Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.