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July 10, 2023
This is to inform you that Utkarsh Small Finance Bank Limited is coming out with a public issue to raise Rs.500 crore from the market.
The issue opens on July 12 and closes on July 14, 2023.
Details of the Utkarsh Small Finance Bank Limited IPO
| Company Details |
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- Utkarsh Small Finance Bank Limited are an SFB in India and recorded the third fastest Gross Loan Portfolio growth between Fiscal 2019 and Fiscal 2023 among SFBs with Gross Loan Portfolio of more than ₹ 60 billion. (Source: CRISIL Report, page 133) Their Promoter, Utkarsh CoreInvest Limited, commenced its operations as a NBFC in Fiscal 2010 and was focused on providing microfinance to unserved and underserved segments and in particular in the states of Uttar Pradesh and Bihar. They have their headquarters located in Varanasi, Uttar Pradesh and have over the years expanded their SFB operations strategically in States where they have been able to leverage the prior microfinance experience of Utkarsh CoreInvest Limited.
- Their operations are spread across India and are present in 26 States and Union Territories with 830 Banking Outlets and 15,424 employees, as of March 31, 2023. As of March 31, 2023, 27.35% of their Banking Outlets were located in Unbanked Rural Centres (“URCs”) as against the regulatory requirement of 25% of banking outlets of SFBs to be located in URCs. Their operations are focused in rural and semi-urban areas and as of March 31, 2023, they had 3.59 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar and Uttar Pradesh that, in Fiscal 2022, are among the states with the best asset quality but with low and moderate credit penetration.
- They are also focused on further strengthening their presence in newer geographies in addition to existing states where they operate by entering into arrangements with business correspondents (“BCs”) and direct selling agents (“DSAs”) and as of March 31, 2023, they had tie-ups with 13 BCs to source customers and 321 DSAs to grow their asset portfolio.
- They offer a range of financial products and services that address the specific requirements of their customer segments while assessing factors including income profile and the type of security available. Their asset products include (i) microbanking loans that include joint liability group loans, and individual loans; (ii) retail loans that includes unsecured loans, such as business loans and personal loans, and secured loans, such as loans against property (“LAP”) (iii) wholesale lending that includes short term and longterm loan facilities to SMEs, mid and large corporates and institutional clients; (iv) housing loans with a focus on affordable housing; (v) commercial vehicle / construction equipment loans; and (vi) gold loans that was launched in Fiscal 2022. On the liabilities side, they offer savings accounts, current accounts and a variety of term and recurring deposit accounts. In addition, they also provide non-credit offerings comprising ATM-cum-debit cards, bill payment system and distribute third party point of sales terminals, mutual funds and insurance products.
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| Issue Period |
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Issue opens on: Wednesday, July 12, 2023
Issue closes on: Friday, July 14, 2023
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| Price Band |
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Rs.23 to Rs.25 per equity share |
| Bid Lot |
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600 equity shares and in multiple thereafter. |
| Issue Size |
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Rs.500 crore |
| Employee Reservation Portion |
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20,00,000 Equity shares amounting to Rs. 5 Cr |
| Issue break-up |
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QIB - 75% of the net offer – Rs.371.25 crore
NIB - 15% of the net offer - Rs.74.25 crore
RET - 10% of the net offer - Rs.49.50 crore |
| Listing |
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NSE and BSE |
| Registrar |
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KFin Technologies Limited |
| UPI |
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All Retail & NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
| Note |
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- Application made using third party UPI or ASBA Bank A/c are liable to be rejected.
- “The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ₹ 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, July 14th, 2023.”
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Watch these 4 videos to know how to apply for the Utkarsh Small Finance Bank Limited IPO online easily.
Step 1: Create an UPI ID
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Step 2: Apply for IPO online using mobile app or website
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Step 3: Authorise UPI mandate to block payment
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Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
| Name of App (Supported Platforms) |
VPA Handle |
| BHIM Baroda Pay (only Android) |
@BARODAMPAY |
| BHIM Oriental Pay (Only Android) |
@obc |
| BHIM RBL Pay (Android & iOS) |
@rbl |
| BHIM (android & iOS) |
@upi |
| BHIM ALLBANK UPI (only Android) |
@allbank |
| BHIM Axis Pay (only android) |
@axisbank |
| BHIM IndusPay (only Android) |
@indus |
| BHIM Lotza UPI (only Android) |
@federal |
| BHIM SBIPay (only android) |
@sbi |
| Citi Mobile (android & iOS) |
@citi & @citigold |
| Google Pay (android & iOS) |
@okhdfcbank | @okaxis | @oksbi | @okicici |
| HSBC Simply Pay (android & iOS) |
@hsbc |
| iMobile by ICICI Bank (android users) |
@icici |
| Kotak Mobile Banking App (Android) |
@kotak |
| Phone-Pe (android & iOS) |
@ybl |
| SIB Mirror+ (only Android) |
@sib |
| BHIM YES PAY (only Android) |
@yesbank |
| DigiBank - DBS (Android & iOS |
@dbs |
| Paytm (Andriod & iOS) |
@paytm |
| BHIM AUPay (Android & iOS) |
@aubank |
| Freecharge (Android & iOS) |
@freecharge |
| BHIM BANDHAN UPI (Android & iOS) |
@bandhan |
| BHIM KBL UPI (Android) |
@kbl |
| Phone-Pe (Android & iOS) |
@ybl, @axl, @ibl |
- To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
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