Utkarsh IPO: Issue subscribed over 10 times on day 2 so far; retail investors steal the show
IPO Subscription Status: The initial public offering (IPO) of Utkarsh Small Finance Bank Ltd was subscribed 10.67 times on Day 2 so far. The public issue that opens for subscription on Wednesday, July 12, ends on Friday, July 14. Retail investors responded enthusiastically to the issue on the second day of the subscription as well.
Meanwhile, Non-Institutional Investors (NIIS), qualified institutional buyers (QIBs), and employees responded well to the IPO offer. Retail investors portion was subscribed 28.35 times, NIIs portion was subscribed 17.59 times and employee portion was subscribed 6.98 times. While, qualified institutional buyers (QIBs) portion was subscribed 1.47 times.
The company has received bids for 1,28,81,44,800 shares against 12,05,43,477 shares on offer, at 13:39 IST, according to data from the BSE. The retail investors' portion received bids for 61,01,19,600 shares against 2,15,21,739 shares on offer for this segment. The employees' portions received bids for 1,51,77,000 shares against 21,73,913 on offer for this segment.
The non-institutional investors' portion received bids for 56,78,92,800 shares against 3,22,82,608 on offer for this segment. The QIBs' portion received bids for 9,49,55,400 shares against 6,45,65,217 on offer for this segment. Utkarsh IPO: Issue oversubscribed on day 1; retail portion booked over 13 times The company has fixed the price band at ₹23 to ₹25 per equity share for the proposed initial public offer.
On Tuesday, July 11, Utkarsh Small Finance Bank raised ₹222.75 crore from 20 anchor investors. The allocation of 8.91 crore equity shares to anchor investors, at an upper price band of ₹25 per share, was finalised, the company stated in its exchange filing. Aditya Birla Sun Life
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