Utkarsh Small Finance Bank IPO: GMP, subscription status, apply or not?

livemint.com:

Utkarsh Small Finance Bank IPO: Subscription for the initial public offer (IPO) of Utkarsh Small Finance Bank opened on 12th July 2023 and it will remain open for subscribers till 14th July 2023. This means bidding for Utkarsh Bank IPO is ending today evening and investors have just one day in hand to apply for the public issue. On first two days of subscription, Utkarsh Small Finance Bank IPO subscription status signals that the issue has been subscribed 16.20 times.

According to market observers, shares of Utkarsh Small Finance Bank Ltd are available at a premium of ₹15 in grey market today. As mentioned above, Utkarsh Small Finance Bank IPO grey market premium (GMP) today is ₹15, which is around 60 per cent higher from Utkarsh Small Finance Bank IPO price band of ₹23 to ₹25 per share. They said that ever since Utkarsh Small Finance Bank shares made debut in the unlisted stock market, they have gone strong to stronger since then.

Observers said that major reason for strong response to the public issue by grey market is positive sentiments on Dalal Street and strong response by investors in first two days of bidding. They said that primary market has delivered strong returns to the investors and this could also be a reason for strong response by investors to the Utkarsh Small Finance Bank IPO. They said that much will depend upon the kind of listing Senco Gold IPO gets.