The Usha Financial Services IPO is a book-built issue valued at Rs 98.45 crores, consisting entirely of a fresh issue of 58.6 lakh shares.
Subscription opens on October 24, 2024, and closes on October 28, 2024. The allotment will be finalized on October 29, 2024, with a tentative listing date on the NSE SME set for October 31, 2024.
Usha Financial Services operates in the non-banking financial services (NBFS) sector. They provide a range of lending solutions, including loans for entrepreneurs, micro, small, and medium enterprises (MSMEs), and individual borrowers, especially women entrepreneurs. They also offer financing for electric vehicles (EVs).
The price band is ₹160 to ₹168 per share. The minimum lot size is 800 shares, requiring a retail investment of at least ₹134,400. For HNIs, the minimum investment is 2 lots (1,600 shares), amounting to ₹268,800.
Narnolia Financial Services Ltd and Unistone Capital Pvt Ltd are the book-running lead managers, with Skyline Financial Services Private Ltd serving as the registrar. Ss Corporate Securities is the market maker for the IPO.
Usha Financial Services IPO Details:
| Company Name | Usha Financial Services Limited |
| Sector | Non-Banking Financial Services |
| IPO Type | SME |
| IPO Open date | 24th Oct 2024 |
| IPO Close date | 28th Oct 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Usha Financial Services IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 800 | 1,34,400 |
| HNI (Min) | 2 | 1600 | 2,68,800 |
Usha Financial Services IPO Timeline:
| IPO Open Date | 24th Oct 2024 |
| IPO Close Date | 28th Oct 2024 |
| Basis of Allotment | 29th Oct 2024 |
| Refund Initiation Date | 30th Oct 2024 |
| Shares Credit to Demat | 30th Oct 2024 |
| Listing Date | 31st Oct 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Usha Financial Services’ financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Non-Banking Financial Services Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Usha Financial Services and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
