The Rs 500 billion Utkarsh SFB IPO had a strong reaction from investors during the bidding process, selling for between Rs 23 and Rs 25.
The allocation status for Utkarsh Small Finance Bank’s initial public offering (IPO) has been made public. Investors responded well to the Rs 500 crore initial offering during the three-day bidding period that began between July 12 and 14.
The IPO of Utkarsh SFB, which was issued for between Rs 23 and Rs 25 a share, received a total subscription of 110.77 times. While the category for non-institutional investors was subscribed 88.74 percent, the portion for qualified institutional bidders was booked 135.71 times. The retail investor quota received 78.38 times as many subscriptions as the employee quota, which brought in 18.02.
The Utkarsh Small Finance Bank’s grey market premium (GMP) has mostly stayed steady. In the grey market, Utkarsh Small Finance Bank was fetching a premium of Rs 15, which on Tuesday was almost Rs 16. The grey market signal at this time points to a listing of 60% for the investors who will receive the allotment.
Utkarsh Small Finance Bank, an Indian small finance institution founded in 2016, has the second-fastest AUM growth over the fiscal years 2018–19 and 2021–2022. Over 6,000 crores worth of assets are being managed by the private lender.
The majority of brokerage firms are bullish on the stock and advise long-term investment in it because of its competitive pricing, healthy balance sheet, and good economic fundamentals. Geographic concentration, however, has been identified by a select analyst as the main threat to the company’s operations.
The Bombay Stock Exchange (BSE) website, which is where investors who placed bids for the issue can verify the allotment status www.bseindia.com/investors/appli_check.aspx . When choosing an issue type, one can tick the equity box and choose the firm name from a dropdown menu.
To check the status of the allotment, one only needs to enter their application number and PAN card ID.
The second option is to go to the registrar’s portal, in this case KFin Technologies Limited in the case of Cyient DLM, to check the allotment status. On the registrar’s website, investors can also check the progress of their allocation at https://kosmic.kfintech.com/ipostatus
On Thursday, July 20, refunds for bidders who failed to receive allocation in the IPO may begin. By Friday, July 21, those who would get shares may notice the credit of shares in their Demat accounts. On Monday, July 24, the IPO is most likely to list.
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