Reservation

The bank has reserved up to 75% of the issue for qualified institutional buyers (QIBs), up to 15% for non-institutional investors (NIIs), and remaining 10% for retail investors.

About Bank

Incorporated in 2016, Utkarsh Small Finance Bank (USFB) is a small finance bank with a pan-India presence, having operations across 26 states and union territories in India as of March 31, 2023. Headquartered in Varanasi, the bank has a strong presence in the rural and semi-urban geographies with a network of 830 branches, 287 ATMs, and 546 micro ATMs. It has Assets under management (AUM) of ₹5,000 crore and was the second fastest-growing SFB in India in the financial year 2019 and FY22. The bank offers loans up to ₹50 crores with a maximum tenure of up to 30 years.

Financials

In the last three fiscals, USFB registered continued growth in its total income at ₹1,705.84 crore in FY21, ₹2,033.65 crore in FY22, and ₹2,804.29 crore in FY23. The net profit stood at ₹111.82 crore in FY21, ₹61.46 crore in FY22, and ₹404.50 crore in FY23.

On the asset quality front, the net NPAs for the last three years stood at 1.33%, 2.31%, and 0.39%, respectively.

DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.

Utkarsh Small Finance Bank issue size

Utkarsh Small Finance Bank IPO opens today: here’s all you need to know