Utkarsh Small Finance Bank (SFB) is all set to launch its initial public offering (IPO) next week, on July 12, 2023. The IPO will consist of a fresh issue of equity shares aggregating up to ₹500 crore with no offer for sale (OFS) component. The face value of each equity share is ₹10.
The price band for the IPO has been fixed at ₹23-25 per share. The minimum order quantity is 600 shares. The IPO will open for subscription on July 12 and close on July 14, 2023. The shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 24, 2023.
Utkarsh SFB is one of the leading small finance banks in India. It has a strong presence in the underserved and unbanked rural and semi-urban areas of the country. The bank offers a wide range of financial products and services to its customers, including savings and current accounts, loans, microfinance, and investment products.
As of March 31, 2023, Utkarsh SFB had a total assets of ₹36,803 crore, a total customer base of over 10 million, and a branch network of over 1,400 branches. The bank’s net profit for the financial year 2022-23 was ₹1,002 crore.
The IPO is expected to be well-received by investors, given the strong financial performance of Utkarsh SFB and the growth potential of the small finance banking sector in India. The bank’s valuation at the upper end of the price band is around ₹11,000 crore, which is at a premium to its peers.
Details of Utkarsh SFB’s IPO
| Issue size | ₹500 crore |
| Price band | ₹23-25 per share |
| Minimum order quantity | 600 shares |
| Listing dates | BSE and NSE, July 24, 2023 |
If you are looking to invest in the IPO, you can do so through a stockbroker. You can find a list of registered stockbrokers on the Securities and Exchange Board of India (SEBI) website.
The IPO is a good opportunity to invest in a leading small finance bank with a strong track record of financial performance. However, it is important to do your own research before investing in any IPO.
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Must Know These Factors
- The bank’s financial performance
- The growth potential of the small finance banking sector
- The valuation of the bank
- Your risk appetite
If you are comfortable with the risks involved, then Utkarsh SFB’s IPO could be a good investment for you.