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.

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Utkarsh Small Finance Bank price band

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