Firstly it's very important to note down that headquarter of Utkarsh Small Finance Bank is situated in Varanasi, and recently in its upcoming Initial Public Offering (IPO) has announced its goal of raising Rs. 500 crores. It has already been settled that the IPO is going to open on July 12 and close on July 14. While keeping in mind to strengthen its tier-1 capital base for future capital requirements and to do that the bank plans to utilize the net capital.

It has been fixed that the price band of the public issue at Rs. 23-25 per share. On July 11 the bidding process for anchor investors is most probably going to commence. If by any chance you are a trader then you should bid for a minimum of 600 equity shares, with multiples of 600 shares thereafter so utkarsh small finance bank's share price might increase which will be very beneficial for any potential trader.

Utkarsh Small Finance Bank's primary objective is to enhance its capital base to accommodate the bank's asset growth, particularly in loans/advances and investment portfolios. This move is essential to ensure compliance with regulatory capital adequacy requirements set by the Reserve Bank of India (RBI).
The primary objective of Utkarsh Small Finance Bank is to enhance its capital base to accommodate the bank's asset growth, most focused on the field of loans/advances and investment portfolio. For regulatory capital adequacy requirements set by the Reserve Bank of India (RBI), this move is very important to ensure compliance with regulations.

Financial Performance:

FY23: Total Income of ₹2,804 crore, Net Profit of ₹404 crore
FY22: Total Income of ₹2,033 crore, Net Profit of ₹61 crore
FY21: Total Income of ₹1,705 crore, Net Profit of ₹111 crore

About Utkarsh Small Finance Bank:

Utkarsh Small Finance was established in 2017 and this is a bank that provides a comprehensive range of deposit products, including savings accounts, current accounts, fixed deposits, recurring deposits, and locker facilities. Till March 2023, Utkarsh Small Finance (USF) operates in 26 states and union territories, and it has been serving 3.6 million customers and which are primarily located in semi-urban areas and rural areas, particularly in Bihar and Uttar Pradesh.

USF experienced significant growth in the bank's gross loan portfolio, from Rs. 8,415.66 crores till March 31, 2021, to reach Rs. 13,957.11 crores as of March 31, 2023. Additionally, the payment of money from a fund increased from Rs. 5914.01 crores in fiscal 2021, to Rs. 12442.89 crores in fiscal 2023, while deposits have increased from Rs. 7507.57 crores to Rs. 13710.14 crores during the same period. 

Conclusion:

The information provided in this blog is for educational purposes only and should not be considered financial or investment advice. Trading in stocks and securities involves risks, and individuals should carefully evaluate their financial situation and consult with professionals before making any trading decisions, you can take the help of Finskool advisory service which will increase your chances of earning profit.