Utkarsh SFB IPO on Jul 12

New Delhi: Utkarsh Small Finance Bank on Monday said it has fixed a price band of Rs23-25 a share for its Rs500-crore initial public offering (IPO). The Varanasi-headquartered small finance bank’s (SFB) IPO will open for public subscription during July 12-14. The bidding for anchor investors will open on July 11, the lender announced. Utkarsh is looking to raise Rs500 crore through its IPO, which is a completely fresh issue of equity shares. Proceeds from the fresh issue will be utilized to augment the lender’s tier 1 capital base to meet future capital requirements.