Shardul Amarchand Mangaldas Advised Utkarsh Small Finance Bank Limited on its Initial Public Offering
Shardul Amarchand Mangaldas & Co advised Utkarsh Small Finance Bank Limited on the Initial Public Offering of fresh issue
Shardul Amarchand Mangaldas Advised Utkarsh Small Finance Bank Limited on its Initial Public Offering Shardul Amarchand Mangaldas & Co advised Utkarsh Small Finance Bank Limited on the Initial Public Offering of fresh issue of 200,000,000 equity on the Indian Stock Exchange Market. This deal has been undertaken for the purpose of utilizing the funds raised towards augmenting its...
Shardul Amarchand Mangaldas Advised Utkarsh Small Finance Bank Limited on its Initial Public Offering
Shardul Amarchand Mangaldas & Co advised Utkarsh Small Finance Bank Limited on the Initial Public Offering of fresh issue of 200,000,000 equity on the Indian Stock Exchange Market. This deal has been undertaken for the purpose of utilizing the funds raised towards augmenting its Tier-1 capital base to meet its future capital requirements.
The deal is valued at Rs. 5,000 million and the date of listing the equity shares on the BSE and the NSE was 21 July 2023.
The Issue had an overall subscription of 101x, with the retail individual portion oversubscribed 80.16x; QIB portion oversubscribed 135.71x; non-institutional bidders (more than Rs. 2 lakhs up to Rs. 10 lakhs portion) oversubscribed 84.24x; and non-institutional bidders (above Rs. 10 lakhs) portion oversubscribed 91.27x.
The Capital Markets team was led by Nikhil Naredi, Partner; Priya Awasthi, Principal Associate; Chinmay Sethia, Senior Associate; Harini Jambunathan, Associate; Rakshita Poddar, Associate.
The Securities Regulatory team was led by Manjari Tyagi, Partner; Deepika Goyal, Principal Associate; and Piyush Kaushal, Associate.
Hogan Lovells Lee & Lee advised ICICI Securities Limited and Kotak Mahindra Capital Company Limited (Book Running Lead Managers) on the international legal aspects.