About Utkarsh Small Finance Bank Unlisted Shares Established in 2009 as a Micro Finance business,  Utkarsh Small Finance Bank is a banking firm that provides affordable banking services such as MSME loans, housing loans, accounts, deposits, insurance, investments, and almost all bank-related services across India. Varanasi-headquartered Utkarsh Small Finance Bank was started as a Microfinance business by Govind Singh and later in 2016 was reconstituted as a bank with the mission and vision of becoming a preferred financial institution through technology-enabled solutions.  The company's operations are spread across India and are present in 22 States and Union Territories with 686 Banking Outlets and 12,617 employees, as of March 31, 2022. Major Shareholders in Utkarsh Small Finance Bank The major shareholders of the company are Utkarsh CoreInvest Limited, and Olympus ACF Pte. Limited,  Bharti AXA Life Insurance Company Limited,  Triodos Sicav II - Triodos Microfinance Fund,  responsAbility Participations Mauritius, Aavishkaar Bharat Fund, and Growth Catalyst Partners LLC.  New DRHP Filed by Utkarsh Small Finance Bank with reduced size Utkarsh Small Finance Bank has refiled the DRHP with SEBI to raise funds from the stock market. The company is looking to raise 500 crores via Initial Public Offering (IPO). The company will raise funds through fresh issues only. No existing investors or promoters are selling their shares. Earlier in July 2021 the company filed DRHP with SEBI and was looking to raise Rs 1350 crore which consisted of a new issue of Rs 750 crore and an OFS of Rs 600 crore by its promoters Utkarsh Coreinvest.  Financials of the Company (Fig. in Cr) As you can see the net-interest margins are increasing at good rate in the last 3 years that means the Utkarsh Small Finance bank is increasing the loan book. However, due to high provisions for NPAs, the profitability is reducing in the last 3 years from 187 Crores in FY19 to just at 60 Crores in Fy22. Rising NPAs in Utkarsh Small Finance Bank COVID 2nd wave caused significant healthcare crisis and had a major impact on the economic and financial activities. As Utkarsh Small Finance Bank book is mainly Microfinance business comprises >75% of Bank’s loan book and it was the most impacted loan book on account of underlying borrowers being marginal income profile as well as largely engaged in the self-employed activity. As a result, the Bank’s asset quality was impacted significantly during FY 2021-22 with increase in Gross NPAs from 3.75% as of March 31, 2021 to 6.10% as of March 31, 2022. The Bank’s Net NPAs increased to 2.31% as of March 31, 2022 from 1.33% as of March 31, 2021. Bank is holding provisional coverage of 63.62% as of March 31, 2022.