Utkarsh IPO: Issue subscribed over 82 times on day 3 so far; QIB portion sees huge demand
IPO Subscription Status: The initial public offering (IPO) of Utkarsh Small Finance Bank Ltd was subscribed 82.68 times on Day 3 so far. The public issue that opened for subscription on Wednesday, July 12, and will end on Friday, July 14. Qualified Institutional Buyers (QIBs) responded enthusiastically to the issue on the third day of the subscription, followed by Non-Institutional Investors and retail investors.
QIBs portion was subscribed 93.29 times, NIIs portion was subscribed 76.61 times and retail portion was subscribed 66.80 times. While, employee portion was subscribed 14.59 times. The company has received bids for 9,96,62,41,800 shares against 12,05,43,477 shares on offer, at 15:00 IST, according to data from the BSE.
The retail investors' portion received bids for 1,43,76,56,400 shares against 2,15,21,739 shares on offer for this segment. The employees' portions received bids for 3,17,62,800 shares against 21,73,913 on offer for this segment. The non-institutional investors' portion received bids for 2,49,22,08,000 shares against 3,22,82,608 on offer for this segment.
The QIBs' portion received bids for 6,15,03,72,600 shares against 6,45,65,217 on offer for this segment. 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.
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