Utkarsh Small Finance Bank IPO : Strong Performance, awaited Listing on July 24th

Last Updated on July 18, 2023 by Brajesh

The much-awaited listing of equity shares of Utkarsh Small Finance Bank will finally happen on July 24th while the allotment of initial public issue will take place on 19th July.

Investors can check their allotment status on official website of the Bombay Stock Exchange (BSE) under “status of issue application” options

Small Finance Bank, a Varanasi-based company, received a resoundingly positive response from investors for its initial public offering (IPO), which ended last week with more than 100 times subscription.
During the subscription period of July 12–14, the public offering of 500 crore rupees for the small finance bank was oversubscribed by 101.91 times which is the second-highest subscription figure in this calendar year after Ideaforges Technologies which was oversubscribed by 106 times.Qualified institutional investors subscribed 125 times the alloted Quota, while high net worth individuals and retails investors subsrbied 81.64 times and 72.11 times respectively. Employees also actively participated with 16.58 times of their alloted quota.
Excluding the cost of the IPO, the company intends to use the funds in increasing the Tier-1 capital base in order to meet future financial requirements.

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