The Utkarsh Small Finance Bank Limited IPO subscription was open from 12th to 14th July 2023, within which QIB and NII made their applications to invest in shares of the company. This IPO’s price band ranged between Rs. 23 to Rs. 25 per share. The minimum lot size for subscription in this IPO was 600 shares.
Utkarsh Small Finance Bank Limited IPO was subscribed 110.77 times on the final day of the bidding process. Investors who have applied for this IPO can check their application status online.
Read More – All About Utkarsh Small Finance Bank Limited IPO
Investors can expect the IPO allotment to be out on 19th July. Here are the steps to check Utkarsh Small Finance Bank Limited IPO allotment status.
What is IPO allotment?
As part of any IPO allotment process, the offer’s registrar allocates the company’s shares to bidders who have made an application for an IPO subscription. In most large-cap IPOs, this process generally takes a week from the IPO release date. For small-cap IPOs, it may take longer, especially in case the IPO subscription does not reach the threshold requirement.
The issue received more than 20,73,319 applications and the institutional investor portion was subscribed 135.71 times while the other investor portions as 88.74 for NII category and 78.38 times for the retail category times subscription towards the higher end of the price band of Rs. 23-25 per unit.
Read more: Difference between New Fund Offer (NFO) and Initial Public Offer (IPO)
Did you know
As per market observers, the grey market premium (GMP) of Utkarsh Small Finance Bank Limited IPO ranged between Rs. 16 as of 15th July.
What is the process to check IPO application status?
IPO allotment status contains details, such as the total number of shares allotted to a bidder or investor. To check the status of the allotment, investors must wait until the IPO allotment date. The information is released to the public on the IPO registrar’s website post this date. IPO applicants or bidders can check their application status online through the BSE or NSE websites. An applicant can also check the status on the official registrar’s website. Investors or IPO subscription applicants can also know about the IPO allotment status through emails or SMS sent by BSE, NSE, CDSL, or NSDL.
Steps to check IPO allotment status on the Fisdom app
On the Fisdom app, an investor can check the allotment status of an IPO by going to his/her Order Book once the allotment process is complete.
Read more: 6 things to keep in mind while investing in IPOs/
Steps to check IPO allotment status on the BSE website
Investors who have bid for the IPO can check the allotment status through the Bombay Stock Exchange (BSE) website by following the steps mentioned below:
- Go to the BSE website – https://www.bseindia.com/investors/appli_check.aspx
- Within the option of issue type, select ‘Equity’
- In the ‘issue name’ section, choose Utkarsh Small Finance Bank Limited from the dropbox
- Mention the application number
- Provide PAN details
- Select ‘I am not a Robot’ and click on submit to check the status
Steps to check IPO allotment status by visiting the Registrar of the issue
The Registrar of the issue for Utkarsh Small Finance Bank Limited IPO is KFin Technologies Limited. To check the status of allotment with the Registrar of the issue, here are the steps to be followed.
- Visit the Kfin Technologies Limited IPO allotment status webpage through the following link, https://ipo.kfintech.com/signIn
- Select Utkarsh Small Finance Bank Limited IPO from the dropdown menu
- Investors can choose either PAN Number, Application Number, or DP Client ID to check the status of allotment.
- Click ‘Search’ to check the allotment status.
Conclusion
With multiple IPOs being launched in India in the last few years, these tend to attract significant media attention and interest. Many IPOs see large-scale subscriptions from both retail investors and large institutional investors. The IPO allotment status is used by market experts as an indicator of the overall investor interest levels that the company has managed to attract in the market. Companies usually share IPO calendars to keep investors informed about the chronology of IPO events. Post the IPO allotment, the company’s shares are listed on the stock exchange for trading.
FAQs
Utkarsh Small Finance Bank Limited IPO allotment is expected to be finalised on 19th July.
IPO allotment status is generally updated on the IPO registrar’s website. Subscribers or bidders of Utkarsh Small Finance Bank Limited IPO must provide their PAN number or IPO application number to check the allotment status. This information can also be found on the stock exchange websites. Allotment information is also sent to applicants via email or SMS notifications by BSE, NSE, NSDL, or CDSL.
If you have subscribed for the Utkarsh Small Finance Bank Limited IPO issue, you will receive a Confirmatory Allotment Note (CAN) within 15 days from the date of issue. If shares are not allotted, the refund will be processed within 15 days from the issue closure date.
No, IPO allotment is not based on who applied first. It is allotted as per the response received from investors. If the IPO does not attract investor interest and remains under-subscribed, there are higher chances of allotment for those who apply. In the case of oversubscription, the IPO allotment is calculated as per the number of shares available for retail investors divided by the minimum lot size.
Utkarsh Small Finance Bank Limited IPO share allotment is not guaranteed since it depends on the level of subscription and investor interest received.
