The ₹500-crore IPO of Utkarsh Small Finance Bank that witnessed a strong interest from all category investors so far will close for public subscription today. At the end of Thursday, the issue was subscribed 16.20 times.
The SFB has fixed ₹23-25 as the price band. The issue will close on July 14. Minimum bid lot is 600 equity shares.
The IPO received bids for 195.26 crore against 12.05 crore shares on offer, per to NSE data.
While up to 75 per cent of the issue has been reserved for QIBs, 15 per cent for non-institutional investors and the balance 10 per cent for retail individual investors.
While the portion reserved for retail individual investors was subscribed 36.66 times, the non-institutional investors portion received bids for 27.72 times. The quota allocated for Qualified Institutional Buyers (QIBs) was subscribed 3.88 times.
On Tuesday, Utkarsh Small Finance Bank has raised ₹222.75 crore from anchor investors as part of the IPO process.
The board of directors of the bank, in consultation with ICICI Securities and Kotak Mahindra Capital Company (Book Running Lead Managers), has finalised allocation of 8.91 crore shares to anchor investors at ₹25 per share.
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. received the shares.