Utkarsh Small Finance Bank IPO Date, Price, GMP, opens for subscription

Here’s everything you must know about the Utkarsh Small Finance Bank Ltd IPO. You are required to read the article for more details and information about the bank. Follow us around for all the insights and fresh updates at the PKB News.

Utkarsh Small Finance Bank IPO

Reportedly, Utkarsh Small Finance Bank (SFB) is among the leading SFBs in the country which is headquartered in Varanasi. It focuses on providing microfinance to unserved and underserved parts. In October 2015, the promoter of Utkarsh Coreinvest was granted in-principle approval from the RBI to establish a Small Finance Bank. Subsequently, Utkarsh SFB was incorporated as a wholly-owned subsidiary in April 2016 and commenced its operations in January 2017. Moreover, the company has a presence in 22 states and four union territories with 830 banking as on March 31, 2023. For over 27% of banking outlets are located in unbanked rural centers. It is known that it has a diversified product mix, with the top seven states of the loan portfolio.

Utkarsh Small Finance Bank IPO will be a fresh issue of up to Rs 500 crore. The money raised through the fresh issue of the Utkarsh Small Finance Bank IPO will be used towards augmenting the Tier 1 capital base to meet its future capital requirements. Here’s a quick look at Utkarsh Small Finance Bank Ltd IPO’s strengths, weaknesses, opportunities, and risks (SWOT analysis). Following are the strengths and opportunities that you must know:

• Banking operations are majorly focused in rural and semi-urban areas that offer growth potential. The share of the rural segment in banking credit is just 8% of the total credit, despite contributing 47% to India’s GDP.
• The gross loan portfolio grew at a CAGR of over 18% to 13,957 crore between FY21 to FY23. In the same period, net interest income increased by 22.1% to Rs 1,529 crore.
• Recorded 31.6% growth in assets under management between FY19 to FY22.
• There is a consistent increase in deposits from Rs 7,507 crore in FY21 to Rs. 13,710 crore in FY23. Meanwhile, CASA to total deposit ratio improved from 17.6% to 20.8% during the same period.

Here are some details about Utkarsh Small Finance Bank Ltd IPO that you should not miss. The company has filed its Draft Red Herring Prospectus with the market regulator SEBI. The offer document filed by the company with the SEBI mentions the Utkarsh SFB IPO’s opening date in other words. Knowingly, the Utkarsh SFB IPO launch date will be July 12, 2023. Whereas, the Utkarsh SFB IPO closing date is July 14th, 2023. Following that, investors will be uploaded about the allotment status on July 19, 2023. The IPO is a fresh issue. The Utkarsh SFB IPO price band has been set between Rs. 23 and Rs. 25 per share. It is believed that interested investors can choose a price within this band to apply for the IPO.

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