Utkarsh Small Finance Bank IPO: Here's how to check allotment status and grey market premium
Utkarsh SFB's Rs 500-crore IPO received a robust response from the investors during the bidding process as the issue was sold in the range of Rs 23-25.
- Jul 18, 2023,
- Updated Jul 18, 2023 7:03 PM IST
Utkarsh Small Finance Bank (SFB), whose Rs 500-crore initial public offer (IPO) received a robust response from the investors during the bidding process, is likely to finalize the basis of allotment of shares on Wednesday, July 19, 2023. The issue was open for subscription between July 12-14 in the price range of Rs 23-25 per share.
The IPO of Utkarsh SFB had received a strong response from the investors and was overall subscribed 110.77 times. The portion for qualified institutional bidders was booked 135.71 times, while the non-institutional investors' category was subscribed 88.74 per cent. The quota reserved for retail investors was subscribed 78.38 times, while the employee portion fetched 18.02 times bids.
Grey market premium (GMP) of Utkarsh Small Finance Bank has seen some strength recently but has been stable lately. Last head, Utkarsh Small Finance Bank was commanding a premium of Rs 16 in the grey market, which was around Rs 15 on Monday.
Incorporated in 2016, Utkarsh Small Finance Bank is a small finance bank in India, which recorded the second fastest AUM growth in the years financial year 2018-19 and financial year 2021-2022. The private lender has an asset under management (AUM) of more than 6,000 crore.
Majority of the brokerage firms are positive on the issue and suggest subscribing to it on a long-term basis, citing its attractive pricing, strong balance sheet and sound business fundamentals. However, a select analyst has flagged geographical concentration as the key threat to its business.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Utkarsh Small Finance Bank Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday, July 20. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Friday, July 21. The listing of the IPO is likely on Monday, July 24.
Also read: Adani Enterprises AGM: Stock up. What Gautam Adani says on Hindenburg Research allegations
Also read: RIL shares gain as board to consider dividend proposal on Friday
Utkarsh Small Finance Bank (SFB), whose Rs 500-crore initial public offer (IPO) received a robust response from the investors during the bidding process, is likely to finalize the basis of allotment of shares on Wednesday, July 19, 2023. The issue was open for subscription between July 12-14 in the price range of Rs 23-25 per share.
The IPO of Utkarsh SFB had received a strong response from the investors and was overall subscribed 110.77 times. The portion for qualified institutional bidders was booked 135.71 times, while the non-institutional investors' category was subscribed 88.74 per cent. The quota reserved for retail investors was subscribed 78.38 times, while the employee portion fetched 18.02 times bids.
Grey market premium (GMP) of Utkarsh Small Finance Bank has seen some strength recently but has been stable lately. Last head, Utkarsh Small Finance Bank was commanding a premium of Rs 16 in the grey market, which was around Rs 15 on Monday.
Incorporated in 2016, Utkarsh Small Finance Bank is a small finance bank in India, which recorded the second fastest AUM growth in the years financial year 2018-19 and financial year 2021-2022. The private lender has an asset under management (AUM) of more than 6,000 crore.
Majority of the brokerage firms are positive on the issue and suggest subscribing to it on a long-term basis, citing its attractive pricing, strong balance sheet and sound business fundamentals. However, a select analyst has flagged geographical concentration as the key threat to its business.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Utkarsh Small Finance Bank Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday, July 20. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Friday, July 21. The listing of the IPO is likely on Monday, July 24.
Also read: Adani Enterprises AGM: Stock up. What Gautam Adani says on Hindenburg Research allegations
Also read: RIL shares gain as board to consider dividend proposal on Friday