IPO Details
Bidding Dates
11 Jul '23 - 13 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
IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 11, 2023
IPO Closing Date
Jul 13, 2023
Basis of Allotment
Jul 18, 2023
Initiation of Refunds
Jul 19, 2023
Credit of Shares to Demat Account
Jul 20, 2023
IPO Listing Date
Jul 23, 2023
UPI Mandate Expiry Date
Jul 13, 2023
Utkarsh Small Finance Bank IPO Subscription Details
Date | QIB | NII | Retail | EMP | Total |
---|---|---|---|---|---|
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-
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.
-
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-
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.
-
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.
Over-Subscribed32.58x
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Over-Subscribed32.58x
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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
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.
Utkarsh Small Finance Bank Limited IPO will finalize the allotment by Wednesday, 19 July 2023.
Each Utkarsh Small Finance Bank Limited IPO lot has 600 shares.
The IPO of Utkarsh Small Finance Bank Limited Ltd will be open for subscription from Wednesday, 12 July 2023.
The minimum market lot size for the Utkarsh Small Finance Bank Limited IPO is 600 shares.
Utkarsh Small Finance Bank Limited shares will be listed on both BSE as well as the National Stock Exchange (NSE).
The Rs. 500 crore initial public offering (IPO) of Utkarsh Small Finance Bank Limited has an issue size of 200,000,000 shares.
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.
Following allotment, the Utkarsh Small Finance Bank Limited shares will be credited to the Demat account.
No, you cannot use the same PAN to make multiple applications for this Utkarsh Small Finance Bank Limited IPO or any other public offering.
Yes, immediately approving a UPI mandate request is preferable. Accepting it as soon as you receive it is much better.
Mr Govind Singh is the current owner of Utkarsh Small Finance Bank Limited.
It is difficult to anticipate the listing gains of each IPO, however, there are a few factors that have a significant impact:
- Market movement on the day of the listing.
- Utkarsh Small Finance Bank Limited stock market supply and demand from investors and dealers.
- The interest of HNI investors in particular.