IPO Details

Bidding Dates

12 Jul '23 - 14 Jul '23

Minimum Investment

₹15,000 / 1 Lots (600 Shares)

Price Range

₹23 - ₹25

Maximum Investment

₹195,000 / 1 Lots (7800 Shares)

Retail Discount

Not Applicable

Issue Size

₹500 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors   |   Retail Individual Investor   |  

ARQ IPO Prediction

Listing gain & Over subscription prediction

Over-Subscribed 32.58x

Chances of listing gains & oversubscription

high

Updated 45mins ago

DAY 3

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IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jul 12, 23

IPO Closing Date

Jul 14, 23

Basis of Allotment

Jul 19, 23

Initiation of Refunds

Jul 20, 23

Credit of Shares to Demat Account

Jul 21, 23

IPO Listing Date

Jul 24, 23

UPI Mandate Expiry Date

Jul 14, 23

Utkarsh Small Finance Bank IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Jul 11, 2023

 0.04 8.25 13.75 2.73 4.73

Day 2Jul 12, 2023

 3.88 27.71 36.66 8.39 16.20

Day 3Jul 13, 2023

 15.71 52.63 55.09 12.70 32.58

Utkarsh Small Finance Bank IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions Buyer 15.71
Non-Institutional Buyers 52.63
Retail Investors 55.09
Employees 12.70
Total 32.58

About Utkarsh Small Finance Bank

Utkarsh Small Finance Bank Ltd, also known as Utkarsh SFB, was established on April 30, 2016. The bank is a subsidiary of Utkarsh CoreInvest Ltd and has made a significant mark in the Indian banking sector by achieving the third highest growth in Gross Loan Portfolio from 2019 to 2023 among SFBs with a portfolio exceeding ₹60 billion.

Utkarsh SFB offers a diverse range of financial products and services such as micro-banking loans, retail loans and wholesale lending tailored to meet the unique needs of its customers. The bank's offerings include asset products for customers primarily in unbanked and underbanked regions, and liability products in the form of deposits sourced from customers across various regions.

The bank has a wide operational footprint across India, with a presence in 26 States and Union Territories. As of March 31, 2023, Utkarsh SFB had 830 banking outlets and a workforce of 15,424 employees. 

Utkarsh Small Finance Bank Limited IPO Details

Utkarsh Small Finance Bank Limited IPO is a fresh issue comprising 200,000,000 shares

aggregating up to ₹500.00 Cr. The price band is set between ₹23 to ₹25 per share with a face value of ₹10 per share. The lot size is 600 shares. It will be listed on BSE and NSE. 

Utkarsh Small Finance Bank Limited IPO Objectives:

The bank proposes to utilise the net proceeds from the issue towards: 

  • Augmenting its Tier–1 capital base to meet its future capital requirements. 
  • Meeting the expenses in relation to the issue.

Peer Details

Equitas Small Finance Bank Limited, Ujjivan Small Finance Bank Limited, Credit Access Grameen Limited, Spandana Sphoorty Financial Limited and Bandhan Bank Limited are few of the listed peer companies operating in the same business line.

Utkarsh Small Finance Bank Limited Noteworthy Highlight: 

  • The company is an SFB in India and has recorded the third fastest Gross Loan Portfolio growth between fiscal 2019 and fiscal 2023 among SFBs with Gross Loan Portfolio of more than ₹ 60 billion.
  • Utkarsh SFB’s operations are focused in rural and semi-urban areas and as of March 31, 2023, it had 3.59 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar and Uttar Pradesh that, in fiscal 2022, were among the states with best asset quality but with low and moderate credit penetration.
  • The company’s total income has increased from ₹17,058.36 million in fiscal 2021 to ₹20,336.46 million in fiscal 2022 and further to ₹28,042.86 million in fiscal 2023. However, profit after tax declined from ₹1,118.15 million in fiscal 2021 to ₹614.62 million in Fiscal 2022. While the profit after tax was ₹4,045.02 million in fiscal 2023.

Utkarsh Small Finance Bank Financials

 Particulars For the year ended 31 March 2023 For the year ended 31 March 2022 For the year ended 31 March 2021
Interest Earned 25,049.80 18,488.13 15,809.87
Other Income 2,993.06 1,848.33 1,248.49
Total income 28,042.86 20,336.46 17,058.36
Interest Expended 9,759.49 7,879.62 7,417.41
Operating Expenses 9,900.13 7,337.49 5,450.57
Provisions and Contingencies 4,338.22 4,504.73 3,072.23
Total Expenditure 23,997.84 19,721.84 15,940.21
Net Profit for the year 4,045.02 614.62 1,118.15
Balance in Profit and Loss account brought forward from previous year 2,537.24 2,072.48 1,454.83
Total Profit 6,582.26 2,687.10 2,572.98
Transfer to Statutory Reserve 1,011.25 153.65 279.54
Transfer to Investment Fluctuation Reserve 17.99 111.27 136.66
Transferred to Capital Reserve - 2.32 84.30
Other adjustments 105.16 105.16 -
Balance carried over to Balance Sheet 5,694.16 2,537.24 2,072.48
Basic EPS (₹) 4.52 0.70 1.46
Diluted EPS (₹) 4.51 0.70 1.46

Know before investing

Strengths

2

  1. The company’s total customers (both deposit and credit) have been continuously increasing and the customer base grew from 2.90 million customers as of March 31, 2021 to 3.14 million customers as of March 31, 2022 and further to 3.59 million customers as of March 31, 2023.

  2. Utkarsh SFb has an extensive physical network of banking outlets and as of March 31, 2023, it has 830 banking outlets across 26 States and Union Territories covering 253 districts in India of which 522 banking outlets are located in rural and semi-urban areas (combined).

Risks

2

  1. A significant portion of the company's advances in the microbanking segment are towards customers located in the states of Bihar and Uttar Pradesh, and any adverse changes in the conditions affecting the region can adversely impact its business, financial condition, results of operations and cash flows.

  2. The company has a high proportion of bulk deposits. A partial or complete withdrawal of such deposits by any of its customers could adversely affect Utkarsh SFB’s business, operations, and financial condition.

  • How to Apply in IPO
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Peer Comparison

Listed Peers Total Income ( INR in Cr ) Return on Net worth ( RoNW )
Equitas Small Finance Bank 2927 8.88%
Ujjivan Small Finance Bank limited 3025 11.05%
Credit Access Grameen Limited 1705 12.27%
Spandana Spoorty Financial Limited 1469 13.40%
Bandhan Bank Limited 3023 19.90%
AU Small Finance Limited 4991 15.60%

Utkarsh Small Finance Bank IPO FAQs

What is Utkarsh SFB Ltd's Initial Public Offering?

Utkarsh Small Finance Bank Limited has filed a DRHP worth over Rs. 500 crore, with SEBI. The issue consists of 200,000,000 fresh equity shares worth Rs. 500 crore.

When will allotments for the Utkarsh Small Finance Bank Limited IPO become available?

Utkarsh Small Finance Bank Limited IPO will finalize the allotment by Wednesday, 19 July 2023.

What will the IPO lot size for Utkarsh Small Finance Bank Limited Ltd be?

Each Utkarsh Small Finance Bank Limited IPO lot has 600 shares.

When will Utkarsh Small Finance Bank Limited IPO be available to buy?

The IPO of Utkarsh Small Finance Bank Limited Ltd will be open for subscription from Wednesday, 12 July 2023.

 

What is Utkarsh Small Finance Bank Limited’s smallest lot size available to retail investors?

The minimum market lot size for the Utkarsh Small Finance Bank Limited IPO is 600 shares.

Which exchanges will Utkarsh Small Finance Bank Limited list on?

Utkarsh Small Finance Bank Limited shares will be listed on both BSE as well as the National Stock Exchange (NSE).

What is the IPO size of Utkarsh Small Finance Bank Limited?

The Rs. 500 crore initial public offering (IPO) of Utkarsh Small Finance Bank Limited has an issue size of 200,000,000 shares.

How to check the allotment status of Utkarsh Small Finance Bank Limited IPO on the AngelOne App?

The easiest ways to check your IPO allotment status on the AngelOne app are below:

Step 1: Login & Look for Investment Opportunities via Angelone App.

Step 2: Choose IPOs & FPOs.

Step 3: Click Order Book.

How will I get my Utkarsh Small Finance Bank Limited stock?

Following allotment, the Utkarsh Small Finance Bank Limited shares will be credited to the Demat account.

 

Can I use one PAN to submit multiple applications for the public issue of Utkarsh Small Finance Bank Limited?

No, you cannot use the same PAN to make multiple applications for this Utkarsh Small Finance Bank Limited IPO or any other public offering.

 

Is it necessary to give immediate approval to a UPI mandate request?

Yes, immediately approving a UPI mandate request is preferable. Accepting it as soon as you receive it is much better.

 

Who owns Utkarsh Small Finance Bank Limited?

Mr Govind Singh is the current owner of Utkarsh Small Finance Bank Limited.

What are the expected listing gains for the Utkarsh Small Finance Bank Limited IPO?

It is difficult to anticipate the listing gains of each IPO, however, there are a few factors that have a significant impact:

  1. Market movement on the day of the listing.
  2. Utkarsh Small Finance Bank Limited stock market supply and demand from investors and dealers.
  3. The interest of HNI investors in particular.