Small Finance Bank - Listed on 21 July 2023
Utkarsh Small Finance Bank (Small Finance Bank) closed its IPO window in 2023 and listed on NSE and BSE on 21 July 2023 at an upper band issue price of Rs 25, opening at Rs 40 for a listing gain of +60.0% and closing day one at Rs 48 (+92.0% on closing basis). The IPO was subscribed 101.91x overall - QIB 124.85x, HNI/NII 81.64x, Retail 72.10x. The total issue size was Rs 500 Cr (Fresh Issue Rs 500 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Small Finance Bank
Utkarsh Small Finance Bank operates in the Small Finance Bank space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Utkarsh Small Finance Bank issue was offered at an upper price of Rs 25 and raised approximately Rs 500 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 15 | +60.00% |
| Day 2 | Rs 13 | +52.00% |
| Day 3 | Rs 15 | +60.00% |
| Day 4 | Rs 15 | +60.00% |
| Day 5 | Rs 15 | +60.00% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Utkarsh Small Finance Bank IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Utkarsh Small Finance Bank IPO listed at +60.0% versus the upper issue price of Rs 25 on 21 July 2023.
Utkarsh Small Finance Bank IPO was subscribed 101.91x overall. QIB portion was subscribed 124.85x, HNI / NII 81.64x and Retail 72.10x.
IPO GMP started at Rs 15 on Day 1 and moved to Rs 15 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.