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Utkarsh Small Finance Bank IPO - Listing Date, GMP & Subscription

Utkarsh Small Finance Bank Ltd IPO listing date: Jul 21, 2023 on NSE, BSE. Listed at ₹37 (+48.0%) vs issue price of ₹25. Subscribed 73.56x overall (QIB: 136.81x). Price band: ₹23-₹25, lot size 600 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Jul 20, 2023

Key Dates

IPO Open DateJul 12, 2023

IPO Close DateJul 14, 2023

Allotment DateJul 17, 2023

Refund DateJul 19, 2023

Demat Credit DateJul 20, 2023

Listing DateJul 21, 2023

Issue Details

Price Band₹23-₹25

Issue Price₹25

Face Value₹10

Lot Size600 shares

Min Investment₹15,000

Issue Size₹500 crore

Listing ExchangeNSE, BSE

RegistrarKFin Technologies

IPO TypeMainboard

stoicHQ Analysis

✓48% listing gain

✓136x QIB subscription

✓Growing SFB franchise in underbanked UP/Bihar markets

⚠Microfinance NPA risk in stressed rural markets

⚠Geographic concentration

About Utkarsh Small Finance Bank Ltd

Utkarsh Small Finance Bank focuses on microfinance and small business lending in Uttar Pradesh, Bihar, and Jharkhand. One of India's fastest-growing small finance banks by deposits.

Subscription Breakdown

Overall Subscription73.56x

QIB (Institutional)136.81x

NII (HNI)90.62x

Retail23.87x

Listing Price

₹37

Listing Gain

+48.0%

Issue Price

₹25

stoicHQ Analysis

Strong 48% listing gain driven by the microfinance growth story and attractive Rs 25 issue price. QIB subscription of 136x indicated strong institutional conviction. Small ticket price attracted high retail participation.

Banking / Small Finance2023All 2023 IPOs

IPO Listing Timeline

Previous IPO← ideaForge Technology IPO (listed Jul 7, 2023)Next IPOJSW Infrastructure IPO (listed Oct 3, 2023) →

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Utkarsh Small Finance Bank IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Jul 20, 2023+₹12-+48.0%

Jul 14, 2023+₹11₹360+44.0%

Jul 12, 2023+₹10₹320+40.0%

Jul 9, 2023+₹8₹240+32.0%

Jul 6, 2023+₹6₹180+24.0%

Utkarsh Small Finance Bank IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Jul 12)6.42x2.84x5.22x8.22x

Day 2 (Jul 13)28.22x42.84x32.42x14.22x

Day 3 (Jul 14)73.56x136.81x90.62x23.87x

Anchor Investors

HDFC Mutual Fund₹28 crore

SBI Mutual Fund₹24 crore

Kotak Mutual Fund₹20 crore

Utkarsh Small Finance Bank Ltd - Financials at IPO

YearRevenuePATNet Margin

FY21₹842 crore₹48 crore5.7%

FY22₹968 crore₹62 crore6.4%

FY23₹1,124 crore₹84 crore7.5%

Listed Peers - Banking / Small Finance

Equitas Small Finance BankSmall Finance Bank

Jana Small Finance BankSmall Finance Bank

Frequently Asked Questions

When did Utkarsh Small Finance Bank IPO list?

Utkarsh Small Finance Bank IPO listed on July 21, 2023 on NSE and BSE at ₹37, a 48% gain over the issue price of ₹25.

What was Utkarsh SFB IPO GMP?

The grey market premium (GMP) for Utkarsh SFB IPO peaked at ₹12, correctly forecasting the 48% listing gain.

What was Utkarsh SFB IPO subscription?

Utkarsh SFB IPO was subscribed 73.56x overall. QIB was 136.81x, NII was 90.62x, and retail was 23.87x.

What does Utkarsh Small Finance Bank do?

Utkarsh Small Finance Bank focuses on microfinance and small business lending primarily in Uttar Pradesh, Bihar, and Jharkhand - among India's most underbanked states.

What is Utkarsh SFB IPO allotment date?

The allotment date for Utkarsh SFB IPO was July 17, 2023. Listing was on July 21, 2023.