The IPO comprises equity shares of face value of Re 10 each, is a complete fresh issue of shares and the entire proceeds will go to the company.

The issue proceeds will be utilized to augment its tier 1 capital base to meet future capital requirements.

Varanasi-based Utkarsh Small Finance Bank Ltd recorded the second fastest AUM growth between Fiscal 2019 and Fiscal 2022 among SFBs with AUM of more than Rs 5000 crore has refiled its draft papers with the regulator to raise an aggregate of Rs. 500 Cr via Initial Public Offering.

The IPO comprises equity shares of face value of Re 10 each, is a complete fresh issue of shares and the entire proceeds will go to the company.

The Offer is being made through the Book Building Process, wherein note less than 75% of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.

The company in consultation with the book running lead managers may consider issue of securities (“Pre-IPO Placement”) aggregating up to Rs 100 crore. If such pre-IPO placement is undertaken, the fresh issue size will be reduced.

The issue proceeds will be utilized to augment its tier 1 capital base to meet future capital requirements.

Promoted by Utkarsh CoreInvest Limited, which commenced its operations as a NBFC in Fiscal 2010 and focused on providing microfinance to unserved and underserved segments particularly in the states of Uttar Pradesh and Bihar, according to the CRISIL report. 

ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the book running lead managers, while KFin Technologies Limited is the registrar to the offer.