Utkarsh Small Finance Bank, with its headquarters nestled in the vibrant city of Varanasi, Uttar Pradesh, has astutely expanded its operations across the diverse landscape of India. Drawing upon the invaluable microfinance expertise of Utkarsh CoreInvest Limited, our bank strategically ventured into states where this knowledge could be harnessed to its full potential. As of March 31, 2022, our banking empire spanned 22 states and union territories, boasting an impressive network of 686 banking outlets and a dedicated workforce of 12,617 individuals.
Notably, a remarkable 27.70% of our banking outlets were strategically situated in Unbanked Rural Centres ("URCs"), surpassing the regulatory requirement of 25% imposed upon small finance banks. This deliberate choice reflects our commitment to reaching underserved communities and fostering financial inclusivity.
Utkarsh Small Finance Bank offers a diverse range of asset products tailored to meet the unique needs of our esteemed clientele. Our micro banking loans encompass both joint liability group loans and individual loans, enabling us to empower communities and individuals alike. On the retail front, we provide unsecured loans, such as business loans and personal loans, as well as secured loans, including loans against property (LAP). Additionally, our comprehensive wholesale lending services cater to the short-term and long-term loan requirements of SMEs, mid and large corporates, and institutional clients. Moreover, we have directed our focus towards affordable housing through housing loans, as well as offering financial support for commercial vehicles and construction equipment. A noteworthy addition to our product lineup in Fiscal 2022 was the introduction of gold loans, catering to the unique needs of our customers.
With a customer base of 3.14 million, primarily residing in rural and semi-urban areas, our bank has established a strong presence in Bihar, Uttar Pradesh, and Jharkhand. These regions exhibit exemplary asset quality, setting them apart from other states, albeit with room for further credit penetration.
Building upon the foundation laid by Utkarsh CoreInvest Limited, a renowned non-banking finance company specializing in microfinance, we continue to prioritize and nurture this crucial business segment. However, our bank is steadfastly diversifying its 154-product portfolio to include non-micro banking loans. This strategic move not only reduces our reliance on microfinance but also enables us to expand our secured loan portfolio, ensuring a balanced approach to our operations. Moreover, we have dedicated ourselves to developing a comprehensive suite of financial products and services that cater to the unique requirements of our diverse customer segments. In doing so, we consider factors such as income profiles and the availability of suitable collateral, ensuring that our offerings resonate with the specific needs of each customer we serve.
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.
| IPO Opening Date | Jul 12, 2023 |
|---|---|
| IPO Closing Date | Jul 14, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per share |
| IPO Price | To be announced₹23 to ₹25 per share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | BSE, NSE |
| Issue Size | 200,000,000 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | 200,000,000 shares (aggregating up to ₹500.00 Cr) |
| QIB Shares Offered | Not less than 75% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| Basis of Allotment Date | 19 July 2023 |
|---|---|
| Initiation of Refunds | 20 July 2023 |
| Credit of Shares to Demat Account | 21 July 2023 |
| IPO Listing Date | 24 July 2023 |
Utkarsh Small Finance Bank IPO is a main-board IPO of 200,000,000 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores. The issue is priced at ₹23 to ₹25 per share. The minimum order quantity is 600 Shares.
The IPO opens on Jul 12, 2023, and closes on Jul 14, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Utkarsh Small Finance Bank IPO opens on Jul 12, 2023 and closes on Jul 14, 2023.
Utkarsh Small Finance Bank IPO lot size is 600 Shares.
You can apply in Utkarsh Small Finance Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services.
The finalization of Basis of Allotment for Utkarsh Small Finance Bank IPO will be done on Wednesday, 19 July 2023, and the allotted shares will be credited to your demat account by Friday, 21 July 2023.
Check the IPO allotment status.
The Utkarsh Small Finance Bank IPO listing date is 24 July 2023.
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