The company has set the price range for the IPO at Rs 23-25 per share, which will be a brand new IPO of Rs 500 crore. About 75% of the offer is reserved for Qualified Institutional Investors (QIB), 15% for Non-Institutional Investors (NII) and the remaining 10% is reserved for private investors, who are entitled to own one lot of his And you can bid a minimum of 600 shares in multiple shares. after that.
Founded in 2016, Utkarsh started operations in 2017 and its product suite includes savings accounts, payroll accounts, checking accounts, time deposits and time deposits, and locker facilities.
The bank recorded the third fastest total loan portfolio growth among its peers from FY2019 to FY2023, with total loan portfolio exceeding Rs 6 billion.
In the year ended March, the company posted a gross profit of Rs.2.84 billion, with a net profit for the period of Rs.440 million.
Sales remained healthy, with a reported CAGR of 26% for FY21-23, but revenue growth was sluggish in FY22 following general market trends following the COVID-19 pandemic. Net NPA was 1.33%, 2.31% and 0.39% in FY21, 22 and 23.
At the top, the company’s P/B is 1.39 times, with a post-issue market capitalization of Rs 2.74 billion and a return on equity of 20.22 per cent, according to Anand Rathi. Proceeds from the new issuance will be used to augment the lender’s Tier 1 capital base to meet future capital requirements. ICICI Securities and Kotak Mahindra Capital Company are acting as lead underwriters on the matter.
