New Delhi, July 21 (SocialNews.XYZ) Varanasi-based Utkarsh Small Finance Bank Ltd, which recorded the second-fastest AUM growth between FY 2019 and FY 2022 among SFBs with AUM of more than Rs 5,000 crore, made a strong debut on the exchanges to close over 92 per cent premium.
The scrip listed at Rs 39.95 per share on BSE and at Rs 40 per share on NSE, at a premium of 59.80 per cent and 60 per cent, respectively. The company's share price closed at Rs 47.94 per share on the BSE, a 91.76 per cent premium, and at Rs 48 per share on the NSE, a 92 per cent premium.
As per NSE, the total quantity traded stood at 2654.61 lakh shares, while on BSE the total quantity stood at 151.58 lakh shares. Total turnover (BSE+NSE) on Day 1 stood at Rs 1,213.36 crore.
The market capitalisation of the company at Friday's closing price stood at Rs 5,253.77 crore as per BSE, and Rs 5,260.34 crore as per NSE.
Promoted by Utkarsh CoreInvest Limited, which commenced its operations as an NBFC in FY 2010, and focused on providing microfinance to unserved and underserved segments, particularly in the states of Uttar Pradesh and Bihar, according to a CRISIL report.
After receiving RBI's in-principle approval in October 2015 to establish an SFB, Utkarsh CoreInvest Limited founded Utkarsh Small Finance Bank Limited as a wholly-owned subsidiary in April 2016.
Utkarsh CoreInvest Limited transferred its microfinance business as a continuing concern to its bank, which started operating in January 2017, after acquiring the RBI licence in November 2016 to establish and carry on business as an SFB.
Source: IANS
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