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Utkarsh Small Finance Bank IPO Promoters
UTKARSH COREINVEST Ltd

Utkarsh SFB IPO IPO Details

Utkarsh Small Finance Bank is an SFB in India and recorded the second fastest AUM growth between Fiscal 2019 and Fiscal 2022 among SFBs with AUM of more than Rs 50 billion. Its Promoter, Utkarsh CoreInvest Limited, commenced its operations as a NBFC in Fiscal 2010 and was focused on providing microfinance to unserved and underserved segments and in particular in the states of Uttar Pradesh and Bihar. It has its headquarters located in Varanasi, Uttar Pradesh and have over the years expanded its SFB operations strategically in States where it has been able to leverage the prior microfinance experience of Utkarsh CoreInvest Limited.

Its operations are spread across India and are present in 22 States and Union Territories with 686 Banking Outlets and 12,617 employees, as of March 31, 2022. As of March 31, 2022, 27.70% of its Banking Outlets were located in Unbanked Rural Centres (“URCs”) as against the regulatory requirement of 25% of banking outlets of SFBs to be located in URCs.

Its operations are focused in rural and semi-urban areas and as of March 31, 2022, it had 3.14 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar, Uttar Pradesh and Jharkhand that have the best asset quality among other states but with low
and moderate credit penetration. As of March 31, 2022, these states constituted 34.27%,
26.53% and 7.10% of its total Gross Loan Portfolio (based on location of the Banking Outlet), respectively. It is also focused on further strengthening its presence in newer geographies in addition to existing states where it operates by entering into arrangements with business correspondents (“BCs”) and direct selling agents (“DSAs”) and as of March 31, 2022, it had tie-ups with 10 BCs to source customers and 187 DSAs to grow its asset portfolio.
For more information, click www.utkarsh.bank

Objects of the IPO
The Bank proposes to utilize the Net Proceeds from the Issue towards augmenting its Tier – 1 capital base to meet its future capital requirements.

Utkarsh SFB IPO GMP, Details, Guidance & Subscription Status
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Utkarsh Bank IPO GMP, Details to Watch, Guidance, Subscription status