Utkarsh Small Finance Bank Ltd., a leading banking institution in India with a focus on financial inclusion, recently conducted its Initial Public Offering (IPO).
The IPO received significant attention from investors due to the bank's commitment to serving unbanked and underserved communities.
Now, investors eagerly await the allotment of shares to see if they have been successfully allocated shares in the IPO.
To check their allotment status conveniently, they can follow the online process provided by the Bombay Stock Exchange (BSE) website.
Utkarsh Small Finance Bank Subscriptions Status
The subscription for Utkarsh Small Finance Bank IPO witnessed strong investor demand throughout its three-day period.
On Day 1, the IPO was subscribed 4.73 times, followed by a robust response on Day 2 with a subscription rate of 16.20 times.
The final day of the subscription period saw an overwhelming response, with the IPO being subscribed a whopping 101.91 times.
Qualified institutional buyers (QIBs) led the way, subscribing to the issue 124.85 times, while retail investors subscribed 72.11 times, and non-institutional bidders subscribed 81.64 times.
The employee portion was also oversubscribed, with a subscription rate of 16.58 times.
Utkarsh Small Finance IPO Allotment Date
The allotment of shares for Utkarsh Small Finance Bank Ltd's initial public offering (IPO) is scheduled to take place on Wednesday, July 19, 2023.
On this date, the bank will allocate shares to successful applicants based on the predefined allotment criteria.
The IPO allotment process involves distributing the available shares among the applicants, ensuring fair participation and proportionate allocation based on the lot size applied for.
Utkarsh Small Finance IPO Listing Date
After the allotment of shares, the next significant milestone for Utkarsh Small Finance Bank IPO is the listing date.
The Utkarsh Small Finance IPO will be listed on bourses on July 24, 2023.
On this day, the bank's shares will be officially listed and made available for trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Investors will have the opportunity to buy and sell Utkarsh Small Finance Bank shares in the open market.
How to check Utkarsh Small Finance Bank IPO Allotment Status Online On BSE Website
Visit BSE's official website - www.bseindia.com.
Select 'Investors' from the menu bar, leading to a new page.
In the menu's 'Investor Services' section, hover over and choose 'Status of issue application'.
Under 'Issue Type', select 'Equity'.
From the drop-down option under 'Issue Name', choose Utkarsh Small Finance Bank IPO.
Enter PAN or application number.
Complete the 'I am not a Robot' verification and click the 'Submit' button.
How to check Utkarsh Small Finance Bank IPO Allotment Status Online On NSE Website
Visit the NSE's official website - www.nseindia.com
Navigate to the 'invest' section on the main page and click on 'check trade/bids'.
Register with PAN by selecting the 'Click here to sign up' option on the NSE website.
Enter the username, password, and captcha code.
Access the new page to check the IPO allotment.
About Utkarsh Small Finance IPO
Utkarsh Small Finance Bank Ltd. is looking at raising up to Rs 500 crore via the issue of fresh equity shares. Utkarsh Small Finance Bank's IPO involves no offer for sale from existing investors.
The IPO price band was Rs. 23 to Rs. 25 per share, with a minimum investment of Rs. 15,000.
The company raised Rs 223 crore from anchor investors ahead of the IPO. It allocated 8.91 crore equity shares to anchor investors at Rs 25 apiece. State Bank of India Mutual Fund, SBI Life Insurance, ICICI Prudential, Kotak Mahindra, Goldman Sachs, Edelweiss Trusteeship and Aditya Birla Sun Life were among the anchor investors, according to a BSE circular.
The issue opened on July 12 and closed on July 14. Utkarsh Small Finance Bank has proposed to utilise the net proceeds from the IPO towards augmenting its tier–1 capital base in order to meet its future capital requirements. The proceeds will also be used towards meeting the expenses incurred for the IPO.
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