According to market sources, the grey market premium (GMP) of Utkarsh SFB rose marginally from the previous day to Rs 17. Analysts advised investors to subscribe to the issue for the long-term strong loan portfolio and lowest cost-to-income ratio.
Utkarsh Small Finance Bank is launching an IPO of fresh issue shares worth INR500 crore ($67m) to increase its Tier 1 capital base in order to meet future requirements. The bank was established in 2016 and began operations the following year, offering a range of deposit products to three million customers mostly located in rural areas.