Bidding for the Initial Public Offering (IPO) for Utkarsh Small Finance Bank Limited started on 12th July. On first day, Utkarsh Small Finance Bank IPO subscription status stood at 5.15 times as the public issue received good response from retail and non-institutional investors. As for the grey market premium, Utkarsh Small Finance Bank IPO GMP is faring around Rs 15-16.
Utkarsh Small Finance Bank IPO Subscription Status
Here is the IPO Subscription Status for Utkarsh Small Finance Bank IPO on first day:
| Category | No. of Shares Bid | Subscribed (No. of times) |
| Qualified Institutional Investors (QIB) | 2,485,200 | 0.04x |
| Non-institutional Investors (NII) | 266,294,000 | 8.97x |
| Retail investors | 296,011,800 | 14.95x |
| Employees | 5,930,400 | 2.97x |
| Total | 570,721,800 | 5.15x |
Out of the total shares (200,000,000) Utkarsh SFB has offered through its IPO, 89,100,000 (44.55%) shares are on offer for anchor investors, 59,400,000 (29.70%) for qualified institutional buyers, 29,700,000 (14.85%) for Non-institutional individuals, 19,800,000 (9.90%) for retail investors and 2,000,000 (1.00%) for employees.
Utkarsh Small Finance Bank GMP Today
As of this update (13th July AM), according to market observers from grey market, Utkarsh Small Finance Bank IPO GMP is Rs 16 which forms the basis that listing price for Utkarsh SFB IPO is expected to be around Rs 41 (Rs 25 + Rs 16). However, a clearer picture would be available after the issue closes for subscription on 14th July.
The Grey Market Premium (GMP) for Utkarsh Small Finance Bank IPO has been steady at around Rs 15-16 for about a week and remains strong even upon the opening of the issue for subscription. However, the IPO grey market premium should be taken as speculative and not as an ideal indicator of a stock’s performance.
IPO Details
The Initial Public Offering (IPO) for Utkarsh Small Finance Bank (Utkarsh SFB) Limited opened on 12th July and closes on 14th July. The company has offered a total of 200,000,000 shares to raise a capital of Rs 500 crores through this book-built issue. The Bank set its IPO issue price at Rs 23-25 per share at a face value of Rs 10 per share with minimum lot size being 600 shares.
According to the registrar for Utkarsh Small Finance Bank IPO, the basis of allotment will be finalized on 19th July. The refunds will be initiated on 20th July and the shares will be credited to the Demat accounts of the investors on 21st July.
This mainboard IPO is set to list on NSE/BSE on 24th July.
