Utkarsh Small Finance Bank IPO
Utkarsh Small Finance Bank Limited (UTKARSHBNK) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 21 July 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +79.1% (likely range +26% to +128%), day's high +94.2%, chance of a gain 97%. Actual: +60.0% at the open, +92.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 6,45,65,217 | 8,06,12,60,400 | 125x | |
| NII (HNI) total | 3,22,82,608 | 2,63,56,34,400 | 81.6x | |
| Big NII (above ₹10 lakh) | 2,15,21,739 | 1,81,82,26,800 | 84.5x | |
| Small NII (₹2-10 lakh) | 1,07,60,869 | 81,74,07,600 | 76.0x | |
| Retail | 2,15,21,739 | 1,55,18,59,800 | 72.1x | |
| Employees | 21,73,913 | 3,60,45,600 | 16.6x | |
| Total | 12,05,43,477 | 12,28,48,00,200 | 102x |
Bids on NSE and BSE together, as published by NSE, as of 14 Jul 2023, 07:00 PM. Shares offered exclude the anchor portion. 11% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Utkarsh Small Finance Bank's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Ideaforge TechnologyJun 2023 | 126x | 80.6x | 85.2x | 106x | ₹567 Cr | +93.5% | +100.0% |
| Cyient DLMJun 2023 | 90.4x | 45.1x | 49.2x | 67.3x | ₹629 Cr | +52.1% | +61.1% |
| CSB BankNov 2019 | 62.2x | 165x | 44.5x | 86.9x | ₹410 Cr | +41.0% | +57.3% |
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| Dreamfolks ServicesAug 2022 | 70.5x | 37.7x | 43.7x | 56.7x | ₹562 Cr | +56.0% | +68.4% |
| Krsnaa DiagnosticsAug 2021 | 49.8x | 116x | 42.0x | 64.4x | ₹1,215 Cr | +5.4% | +15.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Kotak Mahindra Capital | 83 | +20.8% | 76% |
| Company | — | — | — |
Offer documents (NSE)
Frequently asked
What is the Utkarsh Small Finance Bank IPO price band and lot size? ₹23.0–25.0 per share, with a lot of 600 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 102x overall: QIB 125x, NII 81.6x, retail 72.1x, employees 16.6x.
How did it list? It opened at ₹40.0, +60.0% against the issue price of ₹25.0, and closed its first day +92.0%.
