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Utkarsh SFB to finalize basis of allotment of IPO shares today
July 19, 2023
The initial public offering of Utkarsh Small Finance Bank has received a stunning response from investors who now are keenly awaited the share allotment. The basis of the allotment of IPO shares will be finalised by the end of July 19. The participants can check their allotment status either on the BSE website or the portal of the IPO registrar.
Considering the huge subscription numbers, all investors may not get the shares. The shares will be distributed proportionately and the investors, who are eligible for the allotment, will get at least one lot (600 shares).
The eligible investors will get shares in their demat account by July 21 and the refunds will be credited to bank accounts of unsuccessful investors by July 20.
The ₹500-crore public issue of the small finance bank was oversubscribed by 101.91 times, becoming the second to show such huge subscription numbers after Ideaforge Technology which was booked over 106 times.
We have seen great demand for the issue from all kinds of investors with qualified institutional buyers buying 125 times the allotted quota, high networth individuals 81.64 times, retail investors 72.11 times and employees 16.58 times.
Varanasi-based Utkarsh Small Finance Bank will make its debut on the bourses on July 24. This would be the fifth small finance bank listed on the BSE and NSE, after AU Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank and Equitas Small Finance Bank.
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