Utkarsh Small Finance Bank share allotment expected today. Here's how you can check status

economictimes.indiatimes.com:

Utkarsh Small Finance Bank is expected to be finalised today. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE. Step 1: Visit the BSE Website Step 2: Please select the issue name, that is the company's name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status. The company's shares will likely get listed on the exchanges on July 24. According to market sources, the company's shares are commanding a premium of Rs 15 in the unlisted market.

Considering the upper price band of Rs 25, the stock is expected to list at a strong premium of nearly 60%. The Rs 500 crore IPO of Utkarsh Small Finance Bank has received massive response from investors with the issue getting subscribed nearly 102 times at close. The part reserved for qualified institutional buyers was subscribed 124.8 times, while that of non-institutional investors was subscribed 81.6 times.

Meanwhile, the retail quota was subscribed 72.1 times. Incorporated in 2016, Utkarsh commenced operations in 2017, and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits, and locker facilities. While the top line remains healthy, reporting a CAGR of 26% over FY21-23, there was muted growth in FY22 in the bottom lines following the general market trends after the pandemic.