Utkarsh Small Finance Bank’s IPO will come soon! Approval from SEBI

Utkarsh Small Finance Bank IPO News: Utkarsh Small Finance Bank has got permission from the Securities and Exchange Board of India (SEBI) to raise Rs 500 crore through IPO. The head quarter of Utkarsh Small Finance Bank is located in Varanasi which has got permission to bring its shares. Utkarsh Small Finance Bank will get the entire amount received through this IPO. At present, the company is contemplating to issue shares worth Rs 100 crore in the first round. According to the information given on the official website of SEBI, Utkarsh Small Finance Bank had submitted all its documents to bring the IPO in the month of August itself. After this, approval was given to issue IPO (Utkarsh Small Finance Bank IPO) on 21 October 2022.

Required documents were submitted in the year 2021
Earlier, the company had first submitted its documents to bring the IPO for the first time in March 2021. After this, SEBI Utkarsh Small Finance Bank had given permission to the company to IPO by June 2021. But the company did not bring the IPO due to many different reasons. After this, in the documents submitted in August 2022, the documents were submitted to SEBI by reducing the size of their IPO.

Bank increased FD interest rate-
Recently, FD in Utkarsh Small Finance Bank (Utkarsh Small Finance Bank FD Rates) has also decided to increase the interest rates of its FD. The new rates of the bank have been implemented from 17 October 2022. This rate has been increased on FDs of less than Rs 2 crore. The bank is offering an interest rate of 4.00% to 7.75% on FDs of 7 days to 10 years to its general customers. At the same time, the bank is offering the maximum interest rate from 4.75% to 8.50% to senior citizens. The bank has taken this decision after raising the repo rate for the fourth time in a row by the Reserve Bank.

Bank 4.00% on 7 to 45 day FD, 4.25% interest rate on 46 to 90 day FD, 5.00% on 91 day to 180 day FD, 6.00% for general customers on 181 day to 365 day FD, Offering interest rate of 7.15% on FDs of 365 days to 699 days, 7.75% on FDs of 700 days, 7.50% on FDs of 701 days to 5 years and 6.25% on FDs of 5 to 10 years. .

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