Utkarsh Small Finance Bank IPO GMP History
Utkarsh Small Finance Bank IPO has been listed on July 21, 2023 at a listing price of ₹40, against the issue price of ₹25 — a gain of ₹15 (+60%). The GMP peaked at ₹15 on 20 July 2023 and reached a low of ₹13 on 11 July 2023. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Utkarsh Small Finance Bank IPO raised ₹500 Cr. through its IPO at a price band of ₹23 to ₹25 per share, with a lot size of 600 shares. The IPO was open for subscription from 12 Jul 2023 to 14 Jul 2023.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 11:53 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 20 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 19 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 18 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 17 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 15 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 14 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 13 Jul 2023 | ₹ 15 | — | 60% | — | — |
| 12 Jul 2023 | ₹ 15 | ▲ | 60% | — | — |
| 11 Jul 2023 | ₹ 13 | ▼ | 52% | — | — |
| 10 Jul 2023 | ₹ 15 | — | 60% | — | — |
Utkarsh Small Finance Bank IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 12 Jul 2023
- Close 14 Jul 2023
- Allotment 19 Jul 2023
- Refund/credit 20 Jul 2023
- Listing 21 Jul 2023
Utkarsh Small Finance Bank IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹25 |
|---|---|
| GMP-based estimate (pre-listing) | ₹40 (+60%) |
| Listing gain / loss | +₹15 per share |
| Listing date | 21 Jul, 2023 |
| Actual listing price | ₹40 (+60%) |
Is Utkarsh Small Finance Bank IPO GMP reliable?
Grey market premium for Utkarsh Small Finance Bank IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Utkarsh Small Finance Bank IPO full review for a fundamentals-based assessment before making any grey market trades.
Utkarsh Small Finance Bank IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Utkarsh Small Finance Bank IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Utkarsh Small Finance Bank IPO
Utkarsh Small Finance Bank Limited was incorporated in 2016. As per CRISIL, it recorded the third fastest gross loan portfolio growth between Fiscal 2019 and Fiscal 2023 among SFBs with loan books above Rs 60 billion, and had the second highest provision coverage ratio among them in Fiscal 2023.
Its operations focus on rural and semi-urban areas. On 31 March 2023 it had 3.59 million deposit and credit customers, mainly in Bihar and Uttar Pradesh.
Microfinance remains its main segment, through joint liability group and individual loans. It also offers retail loans, wholesale lending, affordable housing loans, commercial vehicle and construction equipment loans and gold loans. Its promoter is Utkarsh CoreInvest Limited.
The IPO was Rs 500 crore and was entirely fresh issue. Rs 454.61 crore was planned to augment the bank's Tier-1 capital.
Frequently asked
What is the GMP of Utkarsh Small Finance Bank IPO?
The current Grey Market Premium (GMP) of Utkarsh Small Finance Bank IPO is ₹ 15.
What is the Kostak Price of Utkarsh Small Finance Bank IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Utkarsh Small Finance Bank IPO is not available.
What is the Subject to Sauda Price of Utkarsh Small Finance Bank IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Utkarsh Small Finance Bank IPO?
Utkarsh Small Finance Bank IPO listed on July 21, 2023 at ₹40, against the issue price of ₹25 — a gain of +60%.
How did the GMP of Utkarsh Small Finance Bank IPO trend before listing?
The GMP of Utkarsh Small Finance Bank IPO was stable in its final days before listing. The GMP peaked at ₹15 on 20 July 2023. View the day-wise table above for the complete GMP history.
Explore Utkarsh Small Finance Bank IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
