Utkarsh Small Finance Bank IPO GMP Price Today: What Indicates Gray Market Premium? Price range, lot size, stock listing date

Utkarsh Small Finance Bank IPO GMP Price Today: Utkarsh Small Finance Bank’s initial public offering (IPO) is scheduled to open on July 12, 2023 and close on July 14, 2023. The anchor book for the issuance will open on July 11, i.e. h tomorrow. Operating in 26 states and union territories, Utkarsh SFB has a significant presence with 830 bank branches and a workforce of 15,424 employees (as of March 2023).

Updated on July 10, 2023 | 6:18 p.m. IST

The initial public offering (IPO) of Utkarsh Small Finance Bank is scheduled for July 12, 2023

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Utkarsh Small Finance Bank IPO GMP Price Today: Utkarsh Small Finance Bank’s initial public offering (IPO) is scheduled to open on July 12, 2023 and close on July 14, 2023. The anchor book for the issuance will open on July 11, i.e. h tomorrow.

The bank wants to raise 500 crore rupees from the IPO. The IPO of Utkarsh Small Finance Bank Ltd at Rs 500 crore consists entirely of a re-issuance of shares to the public. It does not include an OFS (Offer for Sale) component.

About 75 percent of the offering is reserved for qualified institutional buyers (QIBs), while 15 percent is reserved for non-institutional investors (NII) and the remaining 10 percent is reserved for retail investors.

Utkarsh Small Finance Bank IPO GMP price today

Shares in Utkarsh Small Finance Bank are causing a stir in the gray market ahead of the IPO. Shares in Utkarsh Small Finance Bank are trading at a premium of Rs. 13-15, suggesting upside potential of more than 50 percent, according to some websites tracking gray market activity.

There are two factors that affect GMP. First, the market conditions, which include the Nifty and Sensex levels, as well as general IPO market and macro conditions, and second, the level of subscription for the retail and QIB segment IPO.

Utkarsh Small Finance Bank IPO: price range, lot size

Utkarsh SFB, headquartered in Varanasi, has set a price range of Rs. 23-25 ​​per share. Investors have the opportunity to bid for a minimum of 600 shares, with the option to bid in multiples of 600 shares thereafter.

Utkarsh Small Finance IPO Floor Price

According to the Economic Times, the minimum price is 2.30 times the par value of the share and the maximum price is 2.50 times the par value of the share.

Utkarsh Small Finance IPO grant date

Utkarsh Small Finance IPO allocation will be completed on July 19th and refunds will be initiated on July 20th. Subscription status is published online on the Registrar’s official website – Kfin Technologies Limited and the BSE website. Also, Demat credits are expected to happen on July 21st.

Listing date of Utkarsh Small Finance Bank shares

Utkarsh SFB shares will be listed on the NSE and BSE on July 24th.

More details on Utkarsh Small Finance Bank

Operating in 26 states and union territories, Utkarsh SFB has a significant presence with 830 bank branches and a workforce of 15,424 employees (as of March 2023). The bank has successfully built a customer base of 3.59 million, mostly concentrated in rural and semi-urban areas, particularly in Bihar and Uttar Pradesh. These two regions alone account for 30.88 percent and 25.98 percent, respectively, of the Bank’s total gross loan portfolio.

Utkarsh SFB will be the fifth small financial bank to be listed on the stock exchange. Previously, Ujjivan Small Finance Bank, AU Small Finance Bank, Equitas Small Finance Bank and Suryoday Small Finance Bank were listed on the stock exchanges. This development reflects the bank’s growth path and its increasing importance in the financial sector.

According to the Economic Times, ICICI Securities and Kotak Mahindra Capital Company have been appointed as commercial banks, while Kfin Technologies will act as registrar for the offering.