Utkarsh Small Finance Bank share price opens at 60% premium; details here
₹40 per share, 60 percent higher than the issue price, and on the BSE, the stock was listed at ₹39.95 per share. The public issue opened for subscription on Wednesday, July 12, and ended on Friday, July 14. The company fixed the price band at ₹23 to ₹25 per equity share for the proposed initial public offer.
Utkarsh IPO: Issue subscribed over 101 times on day 3; QIB portion sees huge demand 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 Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Kotak Mahindra MF, Goldman Sachs, Massachusetts Institute of Technology Basic Retirement Plan Trust, and others were among the anchor investors.
Utkarsh Small Finance Bank IPO is entirely a fresh issue of equity shares aggregating up to ₹500 crore with no offer for sale (OFS) component, according to the red herring prospectus (RHP). The face value of each equity share is ₹10. To improve its bank's tier I capital base and meet future capital needs, the issue's proceeds will be put to use.
Its tier-1 capital base was ₹1,844.82 crore, or 18.25 percent, as of March 2023. The book running lead managers of the public offering are ICICI Securities Ltd, and Kotak Mahindra Capital Company Ltd, whereas the registrar to the issue is KFin Technologies Ltd. Utkarsh Small Finance Bank IPO shares to list tomorrow; what to expect from the listing? Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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