Utkarsh Small Finance Bank IPO: The company’s unlisted shares on Wednesday, July 19, are trading at a premium of Rs 15 in the grey market
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Utkarsh Small Finance Bank IPO: The allotment of the initial public offering of Utkarsh Small Finance Bank, which opened for public subscription on July 12 and concluded on July 14, will be finalised on Wednesday, July 19. Following this, the shares will be credited to the allottees’ demat accounts on Friday. Those who subscribed to the IPO but did not get the allotment would get their amount back, for which the refund will be initiated on Thursday.
The Utkarsh Small Finance Bank IPO, which plans to raise Rs 500 crore from its offering that comprises only a fresh issue portion, had set the price band for its issue at Rs 23-25 per share.
Utkarsh Small Finance Bank IPO GMP Today
Utkarsh Small Finance Bank’s unlisted shares on Wednesday, July 19, are trading at a premium of Rs 15 in the grey market. So, the current price of the unlisted shares is Rs 40, which is Rs 15 or 60 per cent above the issue price of Rs 25 apiece. So, Utkarsh Small Finance Bank’s current grey market premium (GMP) is Rs 15.
Market experts suggest that GMP is unofficial data, which is non-regulated. So, those who follow GMP are advised to go through the financials of the company as well because the balance sheet of the company will give a better picture of the company’s fundamentals.
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Utkarsh Small Finance Bank IPO: Allotment and Listing Dates
The finalisation of the basis of IPO’s share allotment is expected to take place on Wednesday, July 19, 2023. MAS Services Limited is the registrar of the public issue. The company’s shares are expected to be listed on the BSE and National Stock Exchange (NSE) on July 24, 2023.
How to Check Allotment Status
Utkarsh Small Finance Bank will finalise the allotment by July 19, 2023. If not allotted, the initiation of refunds will take place on July 20, 2023. Once allotted, the shares will be credited to your demat on July 21. Here’s how you can check the allotment status:
a) Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
b) It will take you to a page called ‘Status of Issue Application’
c) After you land on the page, click on the ‘Equity’ option
d) From the drop-down menu that will be displayed beside the issue name, select the option ‘Utkarsh Small Finance Bank’
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e) Write your application number on the page
f) After that, write your Permanent Account Number or PAN
g) Click on the Captcha that says ‘I am not a Robot’ and click on submit
