Utkarsh CoreInvest Limited (UCL) (Formerly Utkarsh Micro Finance Limited) is a Non-Banking Finance Corporation (NBFC) which is a non-deposit systematically important core investment company. In 2017 Utkarsh CoreInvest Limited entered into small finance banking business through its subsidiary Utkarsh Small Finance Bank (USFB). Utkarsh CoreInvest Ltd, now a core investment company carries out its business majorly through its shareholding (99.99%) in its subsidiary Utkarsh Small Finance Bank Ltd, which currently operates through a network of 470 branches providing services such as Current Account, Savings Account, Insurance and Investment products, Electronic Banking Channels, Bill Payments, Group Loans Joint Liability Group (JLG) and MSME Loans. The subsidiary company, Utkarsh Small Finance Bank (USFB) is expected to go for an Initial Public Offering (IPO) of worth ₹ 500 Crore in 2020 as mandated by RBI.
*Disclaimer: Investors should consider certain risk factors such as wide bid ask spread, delay in expected IPO, change in underlying business fundamentals impacting adversely on original investment rationale, security becoming further illiquid due to demand/supply imbalance and IPO floor may turn out to be lower than investors expectation.