Utkarsh Small Finance Bank raises Rs 222 crore from anchor investors
The price band for the issue is Rs 23-25 per share. At the top end, Utkarsh SFB will have a market cap of Rs 2,740 crore post-dilution
 "Utkarsh Small Finance Bank raises Rs 222 crore from anchor investors")
Utkarsh Small Finance Bank (SFB) on Tuesday allotted shares worth Rs. 222 crore to anchor investors. A total of 89.1 million shares at Rs. 25 apiece were allotted. Some investors who got an allotment in the anchor category include Goldman Sachs, ICICI Prudential Life, Kotak Mahindra, and Aditya Birla Sunlife.
The price band for the initial public offering (IPO) is Rs. 23-25 per share. At the top end, Utkarsh SFB will have a market capitalisation of Rs. 2,740 crore post-dilution. The company is issuing fresh shares worth Rs. 500 crore in the IPO, augmenting the bank’s tier-1 capital base. In FY23, the bank reported a net profit of Rs. 405 crore on revenues of Rs. 2,505 crore. Its net interest margin for the year stood at 9.57 per cent. The offer opens Wednesday and closes on Friday.