India's Utkarsh Small Finance Bank falls as IPO lock-in ends

Utkarsh Small Finance Bank

16/10/2023 07:36

** Shares of Utkarsh Small Finance Bank  UTKR.NS  fall as
much as 7.28% to 54.75 rupees
    ** Slide after 44.5 mln shares exited the initial public
offering (IPO) lock-in period on Monday
    ** 50% of the equity shares allotted to anchor investors
under anchor investor portion shall be locked in for a period of
90 days from the data of allotment - Red Herring Prospectus of
UTKR
    ** Anchor investors had picked up 89.1 mln shares after the
IPO in July 
    ** Once the mandatory lock-in period ends, investors are
allowed to sell the shares
    ** Trading volume is 10.64 mln shares as of 11:50 a.m. IST,
1.3x the 30-day avg - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))