reservation
The bank has reserved up to 75% of the issuance for qualified institutional buyers (QIBs), up to 15% for non-institutional investors (NIIs) and the remaining 10% for retail investors.
About the bench
Established in 2016, Utkarsh Small Finance Bank (USFB) is a small finance bank with a presence across India operating in 26 states and union territories in India as of 31 March 2023. Headquartered in Varanasi, the bank has a strong presence in rural and semi-urban regions with a network of 830 branches, 287 ATMs and 546 micro ATMs. It has assets under management (AUM) of ₹5,000 crore and was the second fastest growing SFB in India in FY2019 and FY22. The bank offers loans up to ₹50 crores with a maximum term of up to 30 years.
finance
Over the past three fiscal years, USFB has experienced continued growth in its total revenues to ₹1,705.84 crore in FY21, ₹2,033.65 crore in FY22 and ₹2,804.29 crore in FY23. Net income was 111.82 crore in FY21, 61.46 crore in FY22 and 404.50 crore in FY23.
In terms of asset quality, the net NPAs over the past three years have been 1.33%, 2.31% and 0.39%, respectively.
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