Utkarsh Small Finance Bank aims at Rs 500-600 cr IPO by Dec 2020

Prospectus and other necessary documents likely to be filed with Sebi by next April, firm has till April 2021 to get listed

Utkarsh Small Finance Bank plans to hit the capital markets by December 2020, keeping to the Reserve Bank of India’s (RBI) mandate of going public within three years of launch of bank operations.

Tentatively, the bank is eyeing to mop up Rs 500-600 crore from its planned Initial Public Offer (IPO), a top bank official said here.

“The ground work for the IPO is being readied. We should be able to file the prospectus and other necessary documents with Sebi (Securities & Exchange Board of India) by April 2020. As per the RBI norms, we have to get listed by