New Delhi: Investors eagerly await the allotment of Utkarsh Small Finance Bank IPO (Initial Public Offering) shares after the IPO received overwhelming response during its subscription period from July 12 to July 14. The IPO witnessed a remarkable oversubscription of 101.91 times, with the reserved portion for retail investors garnering a staggering 72.11 times oversubscription.
Investors and market observers are now closely watching the allotment status of the IPO, anxiously awaiting the allocation of shares. As per available information, the allotment status can be checked through the BSE (Bombay Stock Exchange) website or the IPO’s registrar website. Additionally, investors receive notifications via email regarding the share allotment status.
The allotment of Utkarsh Small Finance Bank IPO shares is likely to be completed on July 19, 2023. Meanwhile, the grey market for the bank’s shares has seen a steady trend over the past three days, with the share price holding nearly constant.
GMP (Grey Market Premium) for Utkarsh Small Finance Bank IPO:
According to market observers, the shares of Utkarsh Small Finance Bank are currently trading in the grey market at a premium of approximately INR 16. This premium remains unchanged over the past three days. The positive sentiment prevailing in the domestic stock markets has contributed to the stable GMP for the IPO.
During the IPO, the price band for Utkarsh Small Finance Bank was set at INR 23 to INR 25 per share. Considering the GMP of INR 16, if added to the upper end of the price band (INR 25), the listing price for the bank’s shares could be around INR 41. This indicates a potential premium of 64% over the upper price band.
The Utkarsh Small Finance Bank IPO has garnered significant interest from investors, reflecting positive market sentiment and confidence in the bank’s growth prospects.
The bank aims to utilize the proceeds from the IPO to strengthen its capital base and expand its operations, furthering its mission of providing inclusive and accessible financial services to underserved segments.
Investors and stakeholders await the allotment of shares with anticipation, and the listing of Utkarsh Small Finance Bank shares is expected to be a key event in the financial market landscape.
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