Utkarsh Coreinvest Limited | Latest Share Price & Updates [LIVE CHAT]

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Company Overview

  • Utkarsh CoreInvest Limited (old name – Utkarsh Microfinance Ltd) is the holding and promoting company for “Utkarsh Small Finance Bank Ltd”.
  • Utkarsh CoreInvest Limited was incorporated in 1990, at Varanasi in UP.
  • Utkarsh Micro Finance Limited was into operations of providing financial and non-financial services to the unbanked population who had the skills but were in need of capital. It also offered JLG Loans, Micro Enterprise Loans, Housing Loans, Micro Pension Products.
  • During FY 2016, the Reserve Bank of India granted 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’.
  • Utkarsh Micro Finance transferred through a slum sale, all its assets and liabilities except certain statutory assets, vehicle and statutory liabilities standing as on January 21, 2017 to its subsidiary, USFBL(Utkarsh Small Finance Bank) in line with 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).
Symbol:Utkarsh Coreinvest
Face Value (₹):
ISIN: INE396P01012
Demat Status:NSDL & CDSL BOTH
Lot Size:

Board of Directors:

NameDesignationProfile
Mr. G. S. SundararajanNon- Executive Independent Director,Chairperson of the Boardlinkedin
Mr. AtulIndependent DirectorNA Final 1
Mr. Ashwani KumarManaging Director & CEOlinkedin
Mr. Aditya ParekhNominee Director representing Faering Capitallinkedin
Mr. Gaurav MalhotraNominee Director representing CDC (Commonwealth Development Corporation) Group Plclinkedin
Mr. Harjeet ToorNominee Director representing RBL Bank Limitedlinkedin

Key Highlights

  • The AUM of the Bank stood at 6,660 crore as on March 31, 2020
  • ATM Network 177 Locations
  • Bank’s Asset under management has grown at a CAGR of 64% Since 2017
  • Deposits of the Bank also grew at a CAGR of 551% last 3 years
  • Active Client Base 25 Lakh

Financial Highlights

20192020CONSOLIDATED (Rs. In Crs)
9391406Total Income
93186PAT
-9.1220.79EPS
97.297.38Equity
1010Face Value
87.57111.14Book Value
46406563Advances
8751240Investments
55.42%55.42%CAR (%)

Financial Charts

Shareholding Pattern

Peer Comparison

Media Updates

“Scheme of arrangement between the Company (UCL), its respective shareholders and Utkarsh Small Finance Bank Limited (USFBL)”

Scheme of arrangement between the Company (UCL), its respective shareholders and Utkarsh Small Finance Bank Limited (USFBL), its subsidiary company under Section 230 and other applicable provisions of the Companies Act, 2013, was filed with the National Company Law Tribunal, bench at Allahabad (“NCLT”) on 25 October 2019.

The proposed arrangement envisages the reduction in the face value of the equity share capital of the USFBL and for the issuance and allotment of fully paid-up equity shares of USFBL to the shareholders of UCL from the reserves created from such reduction in the face value of the equity share capital of USFBL.

The Proposed Arrangement is expected to:

  1. Achieve partial satisfaction in the process of compliance of the conditions laid down by RBI in relation to the shareholding of the USFBL (i.e., by dilution of UCL’s shareholding in USFBL from one hundred per cent. (100%) to fifty per cent. (50%));
  2. Provide shareholders of UCL with direct shareholding in USFBL, which is presently held through UCL. Consequently, the shareholders of UCL can take independent decisions with respect to their holdings in UCL and USFBL.

The Company is yet to receive the approval from National Company Law Tribunal, Allahabad.

FUTURE ACTIONS:

The Company and the Banking Subsidiary (USFBL) have been working on various Corporate Actions to ensure compliance as per the SFB guidelines pertaining to:

  1. Maintenance of promoter’s minimum initial contribution to the paid-up equity capital of the small finance bank to at least 40% till first five (5) years from the commencement of operations by the Bank and then to bring the same down to 40% within a period of five years of such commencement of operations by the Bank i.e. from January 23, 2017 till January 22, 2022 .
  2. Listing (IPO) of the Banking Subsidiary within three (3) years of its Net-Worth crossing `500 crore i.e. by June 2021.

In this context, the option of merging the Holding Company into the Bank after completion of five (5) years of the Bank’s operations, is also being explored.

Suitable capital infusion by way of Pre-IPO investments of Tier I and Tier II capitals is also being envisaged to ensure availability of Growth capital in place for the Bank.

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