Utkarsh Small Finance Bank was commanding a grey market premium (GMP) of Rs 16 in the grey market, which was around Rs 15 on Monday
Utkarsh Small Finance Bank (SFB), whose Rs 500-crore initial public offer (IPO) received a solid response from the investors during the bidding process, is expected to finalize the basis of allotment of shares on Wednesday, 19 July 2023. The issue was open for subscription between 12-14 July at a price range of Rs 23-25 per share.
The IPO of Utkarsh SFB was overall subscribed 110.77 times. The quota reserved for qualified institutional bidders (QIBs) was booked 135.71 times, while the non-institutional investors’ category was subscribed 88.74 per cent. The portion booked for retail investors was subscribed 78.38 times, while the employee portion received 18.02 times bids.
Utkarsh Small Finance Bank was commanding a grey market premium (GMP) of Rs 16 in the grey market, which was around Rs 15 on Monday.
Investors can check the allotment status on the website of the Bombay Stock Exchange (BSE):
1. Login tohttps://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, select ‘Equity’
3. Under the issue name, click on Utkarsh Small Finance Bank in the dropbox
4. Enter the ‘Application Number’ or ‘Demat Account Number’ or ‘PAN Card Number’
5. Enter the captcha and click submit
Investors can also check the allotment status on the online portal of KFin Technologies, the registrar of the issue:
1. Visit the web portal of Kfin Technologies Limited https://ris.kfintech.com/ipostatus/
2. You will get 5 links where you can check the status.
3. Open one of the 5 links and choose Utkarsh Small Finance Bank from the dropbox
4. You will be required to select and enter either one of the three modes: Application number, Demat Account number, or PAN ID
5. In application type, select between ASBA and non-ASBA
6. Fill the captcha and click submit
Bidders who could not get allotment in the issue may see the initialisation of refunds on Thursday, 20 July. Others may see the credit of shares in the Demat accounts by Friday 21 July. The Varanasi-based bank is likely to make its debut on the bourses on 24 July.
The subscription window was open from 12 July to 14 July. Potential investors could bid in a price band of Rs 23-25 in multiples of 600, which means Rs 13,800-15,000 per lot.