Jul 12, 2023
By: Katya Naidu
Credit: IANS
The IPO will open on July 12 and close on July 14.
Credit: Pixabay
Utkarsh Small Finance Bank has fixed a price band of ₹23-25 a share for its public issue.
Credit: IANS
Investors can bid for a minimum of 600 equity shares and in multiples of 600 equity shares thereafter.
Credit: Pixabay
The Varanasi-based small finance bank has 830 banking outlets, serving 3.6 million customers primarily in Bihar and UP.
Credit: BCCL
It commenced operations in 2017 and offers a range of deposit products to mostly rural and semi-urban customers.
Credit: BCCL
Its total income was at ₹2,804 crore in FY23, which grew by 37 percent. Its FY22 net profit however was a blip and fell to ₹61 crore even as it recovered in FY23 to ₹404 crore.
Credit: IANS
The bank's gross loan portfolio has grown to ₹13,957.11 crore as of March 31, 2023, from ₹8,415.66 crore as of March 31, 2021.
Credit: IANS
The bank’s former auditors have been debarred by the Reserve Bank of India (RBI), and markets regulator SEBI has sent the company notices for alleged non-compliance of provisions of Companies Act 2013.
Credit: IANS
The bank plans to use the net proceeds from the fresh issue towards augmenting its tier-I capital base for its future capital requirements.
Credit: Pixabay