Utkarsh Small Finance Bank has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The IPO of Utkarsh Small Finance Bank comprises fresh issue of equity shares worth Rs 750 crore and an offer for sale to the tune of Rs 600 crore by promoter Utkarsh Coreinvest.
The company, which filed the draft red herring prospectus with the SEBI in March, got the regulator’s approval on June 3, 2020. The company would utilise proceeds from the fresh issue to augment tier 1 capital base to meet future capital requirements.
Utkarsh Small Finance Bank provides affordable banking services - loans, accounts, deposits and investments across India to fulfil your everyday needs.
