Utkarsh Small Finance Bank IPO: What GMP signals as all eyes set on allotment date

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Utkarsh Small Finance Bank IPO: The initial public offering (IPO) of Utkarsh Small Finance Bank opened for bidding on 12th July 2023 and bidding for the book build issue closed on 14th July 2023. In three days of bidding, Utkarsh Small Finance Bank IPO subscription status informs that the public issue has been subscribed 101.91 times whereas its retail portion got subscribed 72.11 times. After strong response by investors, all eyes are now set on Utkarsh Small Finance Bank IPO allotment date, which is most likely on 19th July 2023.

However, Utkarsh Small Finance Bank share price has remained steady in grey market for the last three days. According to market observers, Utkarsh Small Finance Bank IPO grey market premium (GMP) today is ₹16. They said that the Utkarsh Small Finance Bank IPO GMP has remained unchanged for the last three days or since Friday close.

They said that positive secondary market sentiments and strong response by investor can be attributed as major reasons for Utkarsh Small Finance Bank IPO GMP remaining steady in grey market today. They said that Sensex and Nifty have scaled to a new peak during Monday deals and it may boost the grey market sentiments in near term. Market observers went on to add that Utkarsh Small Finance Bank IPO GMP today is ₹16, which means grey market is expecting that Utkarsh Small Finance Bank IPO listing price would be around ₹41, which is around 64 per cent higher from Utkarsh Small Finance Bank IPO price band of ₹23 to ₹25 apiece.