1.Company Information
• Utkarsh Small Finance Bank Limited are an SFB in India and recorded the third fastest Gross Loan Portfolio growth between Fiscal 2019 and Fiscal 2023 among SFBs with Gross Loan Portfolio of more than ₹ 60 billion. (Source: CRISIL Report, page 133) Their Promoter, Utkarsh CoreInvest Limited, commenced its operations as a NBFC in Fiscal 2010 and was focused on providing microfinance to unserved and underserved segments and in particular in the states of Uttar Pradesh and Bihar. They have their headquarters located in Varanasi, Uttar Pradesh and have over the years expanded their SFB operations strategically in States where they have been able to leverage the prior microfinance experience of Utkarsh CoreInvest Limited.• Their operations are spread across India and are present in 26 States and Union Territories with 830 Banking Outlets and 15,424 employees, as of March 31, 2023. As of March 31, 2023, 27.35% of their Banking Outlets were located in Unbanked Rural Centres (“URCs”) as against the regulatory requirement of 25% of banking outlets of SFBs to be located in URCs. Their operations are focused in rural and semi-urban areas and as of March 31, 2023, they had 3.59 million customers (both deposit and credit) majorly located in rural and semi-urban areas primarily in the states of Bihar and Uttar Pradesh that, in Fiscal 2022, are among the states with the best asset quality but with low and moderate credit penetration.• They are also focused on further strengthening their presence in newer geographies in addition to existing states where they operate by entering into arrangements with business correspondents (“BCs”) and direct selling agents (“DSAs”) and as of March 31, 2023, they had tie-ups with 13 BCs to source customers and 321 DSAs to grow their asset portfolio.
2. Key Strengths
Leading market positions across their major agrochemical and specialty
chemical products;
• Global presence in a market with high entry barriers;
• Large customer base with long lasting relationships;
• Strong R&D capabilities;
• Operational excellence with focus on quality and vertical integration;
• Robust financial performance.
3.Utkarsh Small Finance Bank IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: utkarsh.ipo@kfintech.com