Utkarsh SFB lists at 60% premium

Varanasi-based Utkarsh Small Finance Bank made a strong debut on the bourses on Friday with the stock listing at a 60% premium over the initial public offering (IPO) price. The Utkarsh stock opened at ₹40 on the NSE against the offer price of ₹25 apiece.

The stock closed at ₹48 on the NSE on Friday, which was 92% above the price at which the lender sold shares in the IPO. The company's market capitalization stood at ₹5,260.34 crore on the listing day.

Earlier this month, the bank's ₹500 crore share sale was subscribed nearly 102 times.


"Huge subscription from retail investors and high net worth individuals is a significant achievement, and the listing will act as a catalyst for meeting investors' expectations," said Praveen Kumar Gupta, chairman of the Utkarsh SFB, during the listing ceremony held at the NSE on Friday morning.