Utkarsh Small Finance Bank IPO, you should know before investing.
Utkarsh Small Finance Bank, a Varanasi-based financial institution, is set to launch its initial public offering (IPO) valued at ₹500 crore. The subscription period for the IPO will commence on Wednesday, July 12, and conclude on Friday, July 14. Prior to that, on Tuesday, July 11, the anchor investors' auction will initiate. The allotment process is scheduled to occur on Wednesday, July 19, 2023. Following the allotment, the shares will be credited to the demat accounts of the allottees on Thursday, July 20. Finally on Monday, July 24, the the stock is set to commence trading on both the exchanges. According to the red herring prospectus (RHP), the Utkarsh Small Finance Bank IPO consists solely of fresh issue of equity shares amounting to ₹500 crore, with no offer for sale (OFS) component. Each equity share has a face value of ₹10. The proceeds from the IPO will be utilised to enhance the bank's tier-1 capital base and fulfill its future capital requirements. As of March 2023,...