IPO of Utkarsh Small Finance Bank opened, know these three important things before investing
Utkarsh Small Finance Bank IPO: The IPO of Utkarsh Small Finance Bank will open for general investors from July 12 to July 14. 75 percent of this IPO has been reserved for QIBs, 15 percent for HNIs, and 10 percent for retail investors. The bank made a profit of Rs 404.50 crore in the financial year 2022-23.
The IPO of Utkarsh Small Finance Bank opened to the general public on Wednesday. This is the second IPO to open this month after Senco Gold. The size of this IPO is going to be around Rs 500 crore. This IPO will be open to the public till 14 July.
1. Utkarsh Small Finance Bank IPO - Price Band & Lot Size: Utkarsh Small Finance Bank IPO will be open for subscription from July 12- to July 14. Its price band has been fixed at Rs 23-25 per share.
Its lot size is 600 shares. An investor has to apply for at least 600 shares to bid in the IPO. An investor can apply for a maximum of 13 lots.
The bank has reserved 75 percent of the issue for QIBs, 15 percent for HNIs, and 10 percent for retail investors.
2. Objective of Utkarsh Small Finance Bank IPO: Utkarsh Small Finance Bank IPO proceeds will be used to raise its Tier-I capital base to meet future capital requirements.
3. Bank's business: The loan portfolio of Utkarsh Small Finance Bank was at number three in terms of growth among small finance banks from FY19 to FY23. Presently the loan portfolio of the bank is more than Rs.6000 crores.
Utkarsh Small Finance Bank started its business in January 2017 as Small Finance Bank. Presently the bank has 830 banking outlets in 26 states and union territories and employs approximately 15,424 employees. In the financial year 2022-23, the bank had a profit of 404.5 crores. During this period, the interest income of the bank was Rs 1529 crore.
