Usha Financial Services IPO Day 1: Issue fully booked; check lot size, price band and other details

Usha Financial Services IPO was fully subscribed on the first day of bidding on Thursday, October 24, driven by strong demand from non-institutional investors.

The retail individual investors applied for over 23.54 lakh shares against 19.39 lakh shares reserved for the category. The retail portion of the IPO was booked 1.21 times. The NSE SME issue was subscribed 2 times in the Non-Institutional Investors (NIIs) category. The NIIs applied for more than 16.69 lakh shares against 8.31 lakh shares set aside for them.

The Qualified Institutional Buyers (QIBs) applied for over 11.9 lakh shares against 11.08 lakh shares set aside for the category. The QIBs booked their quota 1.07 times.

Usha Financial Services IPO offer details, price band and lot size

Usha Financial Services aims to raise ₹98.45 crore through its initial public offering. The book-building offer consists of an entirely fresh issue of 58.6 lakh shares. The price band has been set at ₹160 to ₹168 per share.

The minimum lot size to apply for the SME issue for retail investors is a single lot of 800 shares, which aggregates to an investment of ₹1,34,400. High Networth Individuals (HNIs) can place bids for a minimum lot size of 2 lots or 1600 shares which amounts to an investment of ₹2,68,800.

Usha Financial Services IPO dates

Usha Financial Services IPO opened for subscription on October 24 . The bidding window of the SME issue is scheduled to close on October 28. The share allotment status of Usha Financial Services IPO is likely to be finalised on October 29.

Subsequent to the finalisation of the share allotment status of the public issue, refunds will be initiated for unsuccessful bidders on Wednesday, October 30. Successful bidders will also receive shares of Usha Financial Services in their Demat accounts the same day.

Shares of Usha Financial Services will be listed on the NSE SME platform, Emerge. The tentative listing date for Usha Financial Services shares is October 31.

Usha Financial Services IPO Registrar

Usha Financial Services IPO book running lead managers are Narnolia Financial Services Ltd and Unistone Capital Pvt Ltd. The registrar for the issue is Skyline Financial Services Private Ltd and the market maker for the issue is SS Corporate Securities.

Usha Financial Services Promoters

The promoters of Usha Financial Services include Rajesh Gupta, Anoop Garg, Geeta Goswami, Nupur Gupta and M/s BR Hands Investments Private Limited. The shareholding of the promoters in the company stood at 98.91% before the issue. The stake of the promoters will reduce to 72.24% after the issue.

Usha Financial Services financials

Usha Financial Services’ revenue for Q1FY25 stood at ₹26.81 crore and its Profit-After-Tax (PAT) stood at ₹5.04 crore. The company had a networth of ₹111.06 crore at the end of the June quarter of FY25.

The company’s revenue in FY24 was at ₹63.96 crore, up over 38% compared to ₹46.18 crore in FY23. The company’s PAT for the fiscal ended March 31, 2024, grew more than 32% to ₹13.44 crore compared to ₹10.16 crore in the fiscal ended March 31, 2023. The networth of the company also increased more than 29% to ₹106.02 crore from ₹82.07 crore in the preceding fiscal.

Usha Financial Services IPO objective

The company plans to use the money raised via the public issue for augmenting its capital base and general corporate purposes.

About Usha Financial Services Limited

Usha Financial Services Limited, incorporated in May 1995, is a leading non-banking finance company (NBFC). Usha Financial Services provides lending solutions to other NBFCs, corporates, MSMEs and individuals. The company also provides Electric Vehicle (EV) financing services. The company employed 43 workers as of October 2024.