Utkarsh Coreinvest Limited Unlisted Shares
Utkarsh coreinvest limited overview:
Utkarsh CoreInvest Limited (erstwhile Utkarsh Micro Finance Limited) is the promoting institution for ‘Utkarsh Small Finance Bank Limited’ which started its operations in September 2009 to provide financial and non-financial services in its area of operations to the unbanked population who had the skills but were in need of capital.
During FY 2016, the Reserve Bank of India granted a licence to Utkarsh Micro Finance for setting-up a ‘Small Finance Bank’, subsequently to which the company formed a subsidiary in the name of ‘Utkarsh Small Finance Bank Limited’.
The company transferred through a slum sale, all its assets and liabilities except certain statutory assets, vehicle and statutory liabilities standing as at the close of business hours on January 21, 2017 to its subsidiary, USFBL in line with the requirement of the licencing conditions for the Bank.
On January 23, 2017, the subsidiary started the Banking operations. Subsequently, on May 3, 2018, UMFL got its licence converted from NBFC-MFI-ND-SI to NBFC-CIC-ND-SI and on October 11, 2018, its name got changed from UMFL to Utkarsh CoreInvest Limited (UCL).
The Bank subsidiary of company i.e. ‘Utkarsh Small Finance Bank Ltd.’ (USFBL), closed the year with total Gross Advances of INR 4,740 crore and total Deposits Base of INR 3,791 crore. The CASA ratio improved significantly from last year’s 5.3% to this year’s 10% of the total deposits. The deposits base increased by 72% from INR 2,194 crore (March 2018) to INR 3,791 crore (March 2019).
The gross advances grew by 48% from INR 3,208 crore (March 2018) to INR 4,740 crore (March 2019). The Net Interest Income (NII) was INR 497.4 crore and the Operating Profit was INR 230crore. The Bank achieved INR 148.8 crore as Profit Before Tax (PBT) and INR 93.9 crore was the Profit After Tax (PAT). The Gross NPA and Net NPA of 1.39% and 0.12% respectively, are a true reflection of the robust portfolio that your subsidiary Bank possesses. The Bank’s Capital to Risk Assets Ratio (CRAR) was 24.1%, as against the stipulated 15%. The Cost of Funds for the Bank declined from 9.9% in the prior fiscal year to 9.3% in the financial year 2018-19.
During June 2018, the Bank subsidiary of the company, i.e. USFBL crossed its net-worth mark of INR 500 crore. As per RBI guidelines for Small Finance Banks, on reaching the net worth of INR 500 crore, the listing will be mandatory within three years of reaching that net worth. Hence, the Initial Public Offering (IPO) has to come within 3 years from June 2018 i.e. by June 2021. Hence, the Bank is planning for IPO and exploring structuring options in the given time frame.
Management and Board of directors of the company:
Top 10 shareholders of the company as on 31.03.2019 is as under:
Annual Reports of the last 2 years:
Utkarsh Coreinvest Limited Unlisted Shares Details:
Frequently Asked Questions (FAQs) on Utkarsh Coreinvest Limited unlisted shares:
1. How to buy Utkarsh Coreinvest Limited unlisted shares?
Step by Step process to buy Unlisted shares of Utkarsh Coreinvest Limited at the best price today is as under:
Step 1: A deal is proposed between unlisteddeal and buyer either on WhatsApp or over email.
Step 2: Buyer provides their client master copy for transfer of shares, PAN card copy, Aadhar card copy and cancelled cheque. The deal gets confirmed once documents provided are in order.
Step 3: Buyer transfers deal amount to bank account details provided by us and provide us with remitter name, bank account number, bank name and UTR no. for the amount transferred to us.
Step 4:We shall transfer shares to buyer account on the same day of receipt of funds and raise contract note.
See the Infographic flow to buy the shares
2. How to sell Utkarsh Coreinvest Limited unlisted shares:
Step by step process to sell Utkarsh Coreinvest Limited unlisted shares is as under:
Step 1: A deal is proposed between unlisteddeal and seller either on WhatsApp or over email.
Step 2: Seller provides their client master copy, PAN card copy, Aadhar card copy, delivery instruction slip (DIS) copy and cancelled cheque copy. The deal gets confirmed once documents provided are in order.
Step 3: Seller transfer shares to details provided to them by us.
Step 4: We shall make payment to the seller on the same day of receipt of shares.
See the Infographic flow to sell the shares