Wednesday, October 4, 2023

    Earnings Opportunity: Another IPO Launched Today, Know Issue Details


    The share allotment of Utkarsh SFB will be held on July 19.
    It is likely to be listed on NSE and BSE on 24th July
    The listed shares of this IPO are trading at a premium in the gray market.

    Utkarsh Small Finance Bank IPO: Utkarsh Small Finance Bank’s Rs 500 crore IPO will launch today. Under the issue, 20 crore equity shares with a face value of Rs.10 will be issued. You can invest in this IPO till July 14. The price band of Utkarsh SFB IPO has been set at Rs 23-25. 75 per cent of the issue is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 10 per cent for retail investors.

    Ahead of the IPO launch, Utkarsh Small Finance Bank raised Rs 222.75 crore from 20 anchor investors. The company said in its filing to the exchange that it has finalized the allotment of 8.91 crore equity shares to anchor investors at a higher price band of Rs 25 per share. The money raised through the IPO will be used by the company to raise Tier-1 capital and meet issue related expenses.

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    At least 15 thousand rupees should be invested
    Utkarsh Small Finance Bank’s IPO shares were trading at a premium of Rs 15 in the gray market on Tuesday, according to a Moneycontrol report. You can bid as many as 600 shares for the IPO. Retail investors have to invest a minimum of Rs 15,000 for one lot and a maximum of Rs 1.95 lakh for 13 lots as per the upper price band.

    Listing and Allocation
    The share allotment of Utkarsh SFB will be held on July 19. Those who do not get shares will be refunded on July 20. The shares will arrive in the demat account of the investors allotted the shares on July 21. The shares are likely to be listed on NSE and BSE on July 24.

    How is the financial status of the bank?
    In the 2020 financial year, it had a net profit of Rs 1.87 crore, which fell to Rs 1.12 crore in the next financial year. After that, in the 2022 financial year, it comes down further to Rs 61.46 lakh. However, the situation improved in the last financial year and it posted a net profit of Rs 4.04 crore in 2022-23. The bank’s revenue has steadily increased. Its revenue increased from Rs 14.06 crore in FY 2020, Rs 17.06 crore in FY 2021 and Rs 20.34 crore in FY 2022-2022 to Rs 28.04 crore in FY 2022-23. The bank’s services are mainly for semi-urban and rural areas. By the end of March 2023, the bank had 35.9 lakh customers.

    Tag: Bank, Business news in Hindi, earn money, IPO, capital market

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