Utkarsh Small Finance Bank IPO 2023: Dates, Price Band

Overview of the IPO

Utkarsh Small Finance Bank Limited launched a book-built IPO in July 2023 with a price band of ₹23 to ₹25 per equity share. The public issue opened for subscription on July 12, 2023 and closed on July 14, 2023. The IPO was set to list on BSE and NSE, with multiple sources in the provided data citing listing dates of July 21, 2023 and July 24, 2023. The issue was described as a fresh issue with no offer-for-sale (OFS) component. The total issue size was reported at ₹500 crore.

Key dates investors tracked

The IPO timeline included an anchor investor bidding date of July 11, 2023. The basis of allotment was expected to be finalised on July 19, 2023. Refund initiation was scheduled for July 20, 2023, followed by credit of shares to demat accounts on July 21, 2023. For listing, the data set includes both July 21, 2023 and July 24, 2023 as listing dates. A separate row also states, “Utkarsh Small Finance Bank Ltd IPO Listing Date - July 24, 2023,” while another section mentions “Listing date is 21st July 2023.”

Price band, face value, and lot size

Utkarsh Small Finance Bank set the face value at ₹10 per share and the IPO price band at ₹23 to ₹25 per share. The lot size was fixed at 600 shares, with bids required in multiples of 600 shares. Based on the price band, one lot worked out to ₹13,800 at the lower end and ₹15,000 at the upper end, matching the provided “minimum investment” figures shown in the data. For retail investors, the maximum application size mentioned was up to 13 lots, or 7,800 shares, translating to ₹1,95,000 at the upper end of the band.

Issue structure and size

The IPO was described as “entirely a fresh issue” aggregating up to ₹500 crore. One section specifies that the fresh issue comprised 200,000,000 shares aggregating up to ₹500.00 crore. The issue type was stated as a book-built portion, and the shares were to be listed on BSE and NSE. No OFS component was indicated in the provided RHP-based details.

Reservation details by investor category

The issue carried standard category reservations as stated in the provided data. Not less than 75% of the shares in the public issue were reserved for Qualified Institutional Buyers (QIB). Not more than 15% was reserved for Non-Institutional Investors (NII). Not more than 10% of the offer was reserved for Retail Investors. Employee reservation was also referenced in the subscription tables.

Subscription: strong demand by the close

The IPO saw heavy oversubscription based on the end-of-issue figures shared in the data. One update states the IPO was subscribed 101.91 times as of July 14, 2023 at 5:00 PM, with retail at 72.11 times, QIB at 124.85 times, and NII at 81.64 times. Another update later in the evening reports the IPO was subscribed 110.77 times as of July 14, 2023 at 19:02, with QIB at 135.71 times, NII at 88.74 times, retail at 78.38 times, and employee reservations at 18.02 times. The presence of multiple time-stamped figures indicates that subscription tallies were still getting updated towards the end of the bidding window.

Subscription progression during the book-build

Daily subscription snapshots were also provided, showing how demand built up through the three bidding days. Another table lists subscription totals of 5.20 times on July 12, 17.69 times on July 13, and 110.77 times on July 14, with the sharp jump driven primarily by QIB participation on the final day. These day-wise updates align with typical IPO book-building patterns, where institutional bids often come later in the process.

Final reported subscription mix (end-of-issue snapshot)

The most detailed end-of-issue snapshot in the provided text is the July 14, 2023 19:02 update. It breaks down category-wise demand and shows that the strongest participation came from QIBs, followed by NIIs and retail investors. Employee reservation was also subscribed, as per the same update.

Listing outcome mentioned in the data

The provided data also includes a listing reference stating that the IPO “listed at a listing price of 59.85 against the offer price of 25.00.” This indicates a significant premium to the offer price cited in the same line. The article data also repeatedly references ₹25 as the upper end of the price band and as the offer price used for the listing comparison.

What mattered for investors

For retail applicants, the key practical details were the 600-share lot size and the application limits up to 13 lots. For market participants tracking demand, the category-wise subscription showed heavy participation across QIB, NII, and retail segments by the close, with multiple reported snapshots on the final day. Operationally, the timeline highlighted when refunds would begin and when shares would be credited to demat accounts ahead of listing. The book running lead managers were named as ICICI Securities Ltd and Kotak Mahindra Capital Company Ltd, while KFin Technologies Ltd was stated as the registrar to the issue.

Conclusion

Utkarsh Small Finance Bank’s July 2023 IPO combined a ₹23–₹25 price band, a 600-share lot, and a ₹500 crore fresh issue structure with strong subscription demand by July 14. Post-closure, the next confirmed steps were allotment finalisation on July 19, refunds on July 20, and demat credit on July 21, followed by listing on BSE and NSE as reported for July 21 or July 24 in the provided data.