Utkarsh Small Finance Bank's IPO gets good response on second day too, subscribed 16.20 times
Investors subscribed 16.20 times to Utkarsh Small Finance Bank's IPO on the second day. Even on the first day of the IPO, the investors gave a good response. Know who subscribed to this IPO how much and what is the full news.
One of the big names of Small Finance Bank, Utkarsh Small Finance Bank's Initial Public Offer (IPO) yesterday i.e. Thursday 13th July was the second day. Investors subscribed 16.20 times to this IPO on the second day as well.
As per NSE data, the IPO received bids for 1,95,26,93,400 shares against 12,05,43,477 shares on offer.
The IPO was subscribed 36.66 times by retail individual investors (RIIs), 27.72 times by non-institutional investors (NIIs), and 3.88 times by qualified institutional buyers (QIBs).
The IPO of Utkarsh Small Finance Bank was subscribed 4.73 times on the first day of subscription on Wednesday, garnering an overwhelming response from all categories of investors. ICICI Securities Limited and Kotak Mahindra Capital are the managers of this offer.
The company has opened its IPO for three days. This IPO is open for bidding from 12 to 14 July.
The offer is a fresh issue of up to Rs 500 crore with a price band of Rs 23 to 25 per share. Utkarsh Small Finance Bank said on Tuesday, July 11, a day before the IPO, that it has raised Rs 223 crore from anchor investors.
Utkarsh Small Finance Bank said the proceeds from the fresh issue will be used to augment the bank's Tier 1 capital base to meet future capital requirements. Utkarsh Finance Bank started operations in 2017.
The bank offers its customers a range of deposit products such as savings accounts, salary accounts, current accounts, recurring and fixed deposits, and lockers.
After the IPO is over, Utkarsh will join the league of other small finance banks to be listed on the stock exchanges such as AU Small Finance Bank, Equitas Small Finance Bank, Ujjivan Small Finance Bank, and Suryoday Small Finance Bank.
