Utkarsh Small Finance Bank Shares Make Remarkable Debut; List With 60% Premium

New Delhi: Shares of Utkarsh Small Finance Bank on Friday made an outstanding equity market debut, listing with a premium of 60 per cent over the issue price of Rs 25.

The stock began the trade at Rs 39.95, registering a jump of 59.8 per cent on the BSE. Later, it zoomed 91.76 per cent to Rs 47.94.

At the NSE, it listed at Rs 40, up 60 per cent from the issue price.

The company commanded a market valuation of Rs 5,185.82 crore on the BSE.

The Initial Public Offering (IPO) of Utkarsh Small Finance Bank was a huge hit among investors as it got subscribed a whopping 101.91 times on the last day of subscription.

The price range for the offer was at Rs 23-25 a share.

The company commenced operations in 2017 and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits, and locker facilities.

Utkarsh joined the league of other small finance banks such as AU Small Finance Bank, Equitas Small Finance Bank, Ujjivan Small Finance Bank, and Suryoday Small Finance Bank to list on the stock exchanges.