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Utkarsh Small Finance Bank

The bank is an SFB in India and recorded the second fastest Assets under management (AUM) growth between Fiscal 2019 and Fiscal 2022 among Small Finance Bank with AUM of more than INR 50 billion. Its Promoter, Utkarsh CoreInvest Limited, commenced its operations as an NBFC in Fiscal 2010 and was focused on providing microfinance to unserved and underserved segments and in particular in the states of Uttar Pradesh and Bihar.
Its operations are spread across India and are present in 22 States and 4 Union Territories with 830 Banking Outlets and 15,400 employees, as of 31 March 2023. As of 31 March 2023, 27.35% of the Banking Outlets were located in Unbanked Rural Centres as against the regulatory requirement of 25% of banking outlets of SFBs to be located in URCs.

Its operations are focused in rural and semi-urban areas and as of 31 March 2023, the company had 3.5 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar, Uttar Pradesh, and Jharkhand that have the best asset quality among other states but with low and moderate credit penetration.

Utkarsh Small Finance Bank IPO Details

Signature Global IPO Details
Utkarsh SFB IPO Dates
12 – 14 Jul 2023
Utkarsh SFB IPO Price
INR 23 – 25 per share
Fresh issue
INR 500 crores
Offer For Sale
Nil
Total IPO Size
INR 500 crore
Minimum bid (size)
600 shares (INR 15,000)
Face Value
INR 10 per share
Retail Allocation
10%
Listing On
NSE, BSE

Utkarsh Small Finance Bank Financial Performance

Signature Global Financial Performance

FY2021

FY2022

FY2023

Revenue

1,580.99

1,848.81

2,504.98

Expenses

1,594.02

1,972.18

2,399.78

Net income

111.81

61.46

404.50

Margin (%)

7.07

3.32

16.15

Figures in INR Crore unless specified otherwise

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