Utkarsh SFB sets up Rp13.5bn listing
Utkarsh Small Finance Bank is planning an IPO of new and existing stock worth up to Rp13.5bn ($185.8m).
The lender has filed its draft red-herring prospectus through bookrunning lead managers ICICI Securities, IIFL Securities and Kotak Mahindra Capital.
The listing will comprise Rp7.5bn in primary shares and a Rp6bn offer-for-sale (OFS) of secondary stock. The bank’s promoter Utkarsh Coreinvest will provide the shares for the OFS....