Incorporated in 2016, Utkarsh commenced operations in 2017 and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits and locker facilities.
Utkarsh Small Finance Bank s Rs 500 crore IPO received a strong response on the first day of bidding, with the retail investors quota fully subscribed within hours. The IPO was oversubscribed by 4.73 times, while the retail and non-institutional investor categories saw high subscription rates of 13.75 times and 8.25 times, respectively., Markets News, Times Now
Utkarsh Small Finance Bank, the fifth small finance bank to be listed, has launched an initial public offer of INR5bn ($66m). The funding will enable the bank to expand its business over the next two years, according to managing director Govind Singh. The shares are priced at between INR23 and INR25, with a face value of INR10. Jana and Fincare are among other small finance banks looking to raise equity via a public offering.