Showing posts from July, 2023

SBFC Finance Limited’s Initial Public Offering to open on Thursday, August 3, 2023, sets price band at ₹54 to ₹57 per Equity Share

  Price Band of ₹54 – ₹57 per equity share bearing face value of  ₹10 each (“Equity Shares”) Bid/Offer Opening Date – Thursday, August 3, 2023 and Bid/Offer Closing Date – Monday, August 7, 2023. Minimum Bid Lot is 260 Equity Shares and in multiples of 260 Equity Shares thereafter. The Floor Price is 5.4 times the face value of the Equity Share and the Cap Price is 5.7 times the face value of the Equity Share. Risks to Investors Regulatory Risk • As an NBFC, we are subject to periodic inspections by the RBI. Non-compliance with observations made by the RBI during these inspections could expose us to penalties and restrictions. • We are subject to laws and regulations governing the financial services industry and our operations in India, including laws in relation to capital adequacy ratios. Changes in regulations governing us could adversely affect our business, results of operations and prospects. • Our non-convertible debentures are listed on the BSE and we are subject to rules and r

Utkarsh Small Finance Bank inaugurates its Branch in Andheri, Mumbai

  With this, the Bank has opened 70 branches in Maharashtra and 855 branches across the country. Mumbai – July 31, 2023 -: Utkarsh Small Finance Bank Limited (“ USFBL ” or the “ Bank ”),  today  announced the inauguration of its branch in Andheri, Mumbai.  With this, the Bank has 855 branches in the country with 70 branches in the state of Maharashtra. Customers at Andheri, can now avail the Bank’s products and services, which includes savings bank account, current account, fixed deposits and recurring deposits amongst other facilities. Speaking on the inauguration, Mr. Parveen Kumar Gupta, Chairman, Utkarsh Small Finance Bank Limited, said, “This opening of our banking outlet in Andheri reiterates our commitment to expand our geographical imprint across country. We aim to drive our objective of financial inclusion and  economic independence of all sections of society by offering innovative products and best possible rates .  We have plans for further expansion of our network in the co