IPO screener | Utkarsh SFB offer closes today

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500 crore IPO of Utkarsh Microfinance Bank which has seen huge interest from all classes of investors so far, the IPO will close today. At the end of Thursday, the issue was 16.20 times oversubscribed.

Select SFB $23-25 ​​as your price range. The release will close on July 14th. The minimum bid is 600 shares of stock.

The offering received bids of Rs 195.26 crore for 12.05 crore shares offered, according to NSE data.

While up to 75 percent of the issuance was reserved for Qatar Islamic Bank, 15 percent for non-institutional investors and the remaining 10 percent for retail investors.

While the portion reserved for retail investors was oversubscribed 36.66 times, the non-institutional investors section received bids 27.72 times. Quota for Qualified Institutional Buyers (QIBs) subscribed 3.88x.

On Tuesday, Utkarsh Small Finance Bank raised Rs 222.75 crore from anchor investors as part of its IPO.

The Bank’s Board of Directors, in consultation with ICICI Securities and Kotak Mahindra Capital Company (Managing Directors), has completed an allotment of 8.91 crore shares to the underlying investors at a price of $25 per share.

Receive SBI Mutual Fund, ICICI Prudential, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Goldman Sachs Funds, SBI Life Insurance Company, Edelweiss Trusteeship, Founders Collective Fund, AG Dynamics Funds, etc.