After showing strong interest in the initial public offering (IPO) of Varanasi-based Utkarsh Small Finance Bank, which reflected in its huge subscription figures, investors are now waiting the allotment of shares under the issue.

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The basis of the allotment of IPO shares will be finalised by the end of July 19 and the shares should get credited in the demat account of the eligible shareholders by July 21. The stock is likely to get listed on both the National Stock Exchange and BSE on July 24.

If you have subscribed for Utkarsh Small Finance Bank shares, you can check the allotment status for your application online on the website of the official registrar of the IPO -- KFin Technologies Ltd. Alternatively, you may also check the status on the official BSE website.

To check the status via BSE, you can visit https://www.bseindia.com/investors/appli_check.aspx. For checking on the KFin Technologies website, click on this link https://kcas.kfintech.com/ipostatus/.

Remember to keep your IPO application number and PAN details ready when you check the allotment status.

Utkarsh Small Finance Bank IPO had kicked off for subscription during July 12-14. The small finance bank had set the price band of Rs 23-25 per share for its issue.

About 75 percent of the Rs 500-crore offer was reserved for qualified institutional buyers (QIBs), 15 percent for high net worth individuals (HNIs), and the balance 10 percent for retail investors.

According to reports, the public issue has been subscribed nearly 102 times, with the retail portion getting subscribed by more than 72 times and the HNI category getting subscribed nearly 82 times. The QIB category was the most subscribed at nearly 125 times.

Before the IPO opened, Utkarsh Small Finance Bank had also allotted shares worth Rs 222 crore to anchor investors at a price of Rs 25 apiece. Some investors who got shares in the anchor category included Goldman Sachs, ICICI Prudential Life, Kotak Mahindra and Aditya Birla Sunlife.

The bank had earlier said that it would use the net proceeds from the issue to augment its Tier 1 capital base to meet future capital requirements.

https://www.cnbctv18.com/market/stocks/here-is-all-you-need-to-know-about-the-ipo-of-utkarsh-small-finance-bank-17171761.htm

First Published:Jul 17, 2023 1:39 PM IST