Investors eagerly await the share allotment of Varanasi-based Utkarsh Small Finance Bank after its IPO received overwhelming subscription. The bank's IPO, which ran from July 12 to 14, set the price band at Rs 23-25 per share.
Reports suggest that the share allotment process will likely be finalized on July 19, and eligible shareholders can expect the shares to be credited to their demat accounts by July 21. The stock is anticipated to be listed on both NSE and BSE on July 24.
If you've subscribed for Utkarsh Small Finance Bank shares, you can check the allotment status online through the official registrar of the IPO, KFin Technologies Ltd., or on the BSE website. Just have your IPO application number and PAN details ready for verification.
With about 102 times subscription, the public issue witnessed enthusiastic response, with the retail portion oversubscribed by over 72 times, HNI category by nearly 82 times, and the QIB category leading at nearly 125 times.
Utkarsh Small Finance Bank reserved about 75% of the Rs 500-crore offer for qualified institutional buyers (QIBs), 15% for high net worth individuals (HNIs), and the remaining 10% for retail investors.
Before the IPO opening, the bank allotted shares worth Rs 222 crore to anchor investors, including Goldman Sachs, ICICI Prudential Life, Kotak Mahindra, and Aditya Birla Sunlife, at a price of Rs 25 per share.
The net proceeds from the IPO will be used by Utkarsh Small Finance Bank to bolster its Tier 1 capital base, ensuring it meets future capital requirements. As the bank's journey continues, investors eagerly anticipate a promising future. Stay tuned for updates on the allotment and the bank's listing on NSE and BSE!