Utkarsh Small Finance Bank IPO Listing: Investors who invested money in Utkarsh Small Finance Bank’s IPO have earned bumper as its shares have managed to get listed with 60 per cent profit.
Utkarsh Small Finance Bank IPO Listing: The listing of the shares of Utkarsh Small Finance Bank has happened today and it has given tremendous profits to the investors as expected. Utkarsh Small Finance Bank’s shares got listed on NSE today with a premium of 60 per cent. Its shares are listed at Rs 40 per share on the NSE against the issue price of Rs 25.
Great listing on BSE too
Utkarsh Small Finance Bank’s shares are also listed on BSE at a premium of about 60 per cent (59.80 per cent) and here it is listed at Rs 39.95 per share. In this way, the listing of shares of Utkarsh Small Finance Bank has been done on the lines of gray market price and its investors have got bumper profits.
What was the price band of Utkarsh Small Finance Bank IPO?
The price band for the company’s shares was kept at Rs 23-25 and today its listing at Rs 40 has enabled investors to make good profits.
How much money was the bank’s target to raise
Utkarsh Small Finance Bank had a target of raising 500 crores through this IPO. All fresh shares have been issued in this IPO. Not a single share was issued in this IPO through offer for sale. The company will meet the cash requirements of the bank with the amount received through the IPO.
How was the response for the IPO
The IPO of Utkarsh Small Finance Bank received a strong response from the investors and got a total subscription of more than 102 times. Qualified Institutional Investors (QIBs) subscribed up to 125.85 times their quota. Non-Institutional Investors (NII) have received only 81.64 per cent subscription. Retail investors got a total subscription of 72.11 times and the employee quota of the company was subscribed up to 16.58 times.
How is the business of Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has operations in 26 states and union territories. Its 15,424 employees work in a total of 830 branches. According to the statistics of March 2023, more than 27 percent of the bank’s branches are in rural areas of the country where banking services were not available to the people earlier. The bank is working from the year 2016.
