Who is the founder and promoter of Utkarsh CoreInvest?

Utkarsh CoreInvest Limited was founded and is promoted by Govind Singh, who has been the Managing Director and CEO of Utkarsh Small Finance Bank. He is a key figure in the microfinance and small finance banking space in India.

Is Utkarsh Small Finance Bank listed?

Yes. Utkarsh Small Finance Bank Limited (subsidiary of Utkarsh CoreInvest) is listed on NSE and BSE under the ticker UTKARSHBNK. The bank completed its IPO in 2023. However, the holding company Utkarsh CoreInvest Limited itself remains unlisted.

What is the market cap of Utkarsh CoreInvest Limited?

Utkarsh CoreInvest Limited is unlisted, so no official market cap is available. The current indicative price in the unlisted market is approximately ₹150 per share. Investors typically value the holding company at a discount to the net asset value represented by its stake in the listed Utkarsh Small Finance Bank.

How do I buy Utkarsh CoreInvest unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Utkarsh CoreInvest?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Utkarsh CoreInvest shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Utkarsh CoreInvest Unlisted Share Price | Buy Utkarsh CoreInvest Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Talk to us

Utkarsh CoreInvest Unlisted Share Price | Buy Utkarsh CoreInvest Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Utkarsh CoreInvest Limited is the unlisted NBFC-MFI holding company and promoter of Utkarsh Small Finance Bank (NSE/BSE: UTKARSHBNK), which listed in 2023. Founded in Varanasi in 2009, the group has built a significant microfinance and small finance banking franchise across northern India. The holding company's value is directly linked to the bank's performance and the promoter stake value. At ₹150 per share in the unlisted market, investors are effectively getting exposure to the promoter stake in the bank at a holding company discount.

Pros

Utkarsh CoreInvest Limited is the NBFC-MFI holding company of Utkarsh Small Finance Bank, which obtained its banking licence from RBI in 2017 and commenced operations as a small finance bank — a significant milestone reflecting strong regulatory confidence.
Utkarsh Small Finance Bank (the subsidiary) is listed on NSE and BSE (ticker: UTKARSHBNK), providing transparency into the underlying banking operations that CoreInvest holds.

Cons

As a holding company (non-operating entity), Utkarsh CoreInvest's own revenues and earnings are limited to dividends received from Utkarsh Small Finance Bank, making it a pass-through vehicle with its own valuation discount.
Microfinance and small finance banking segments in India face ongoing credit quality stress, particularly in rural and semi-urban markets, which can pressure the bank subsidiary's asset quality and dividend capacity.

Business Segments

Promoter Holding (Utkarsh Small Finance Bank)

Holds the promoter stake in Utkarsh Small Finance Bank Limited (NSE/BSE: UTKARSHBNK), which provides microfinance, retail banking, housing loans, and MSME credit.

Revenue Model

As a holding company and NBFC-MFI, Utkarsh CoreInvest derives income primarily through dividends from its stake in Utkarsh Small Finance Bank Limited. The subsidiary bank earns revenue through interest income on loans (microfinance, housing, MSME) and fee-based banking services.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

Growth of Utkarsh Small Finance Bank's loan book across microfinance, MSME, and housing loan segments.

Potential transition of small finance bank to a universal bank licence over time, which would be a significant value unlock.

India's financial inclusion drive creates sustained demand for microfinance and small finance bank services.

Industry Tailwinds

Growth of Utkarsh Small Finance Bank's loan book across microfinance, MSME, and housing loan segments.

Recent Developments

Utkarsh Small Finance Bank IPO

Utkarsh Small Finance Bank (subsidiary of Utkarsh CoreInvest) successfully completed its IPO in July 2023, listing on NSE and BSE. The IPO raised funds to support the bank's growth capital requirements.

2023-07

Comparable Companies

CompanyTypeTickerMkt Cap

Utkarsh Small Finance BankListedUTKARSHBNK~3000-4000 Cr

Equitas HoldingsListedEQUITASBNK~5000 Cr

Suryoday Small Finance BankListedSURYODAY~1000 Cr

Utkarsh Small Finance BankListed

UTKARSHBNK · ~3000-4000 Cr

Frequently Asked Questions

Utkarsh CoreInvest Limited is the NBFC-MFI holding company and promoter entity of Utkarsh Small Finance Bank. It was originally started as a microfinance institution in 2009 using the Joint Liability Group (JLG) model. In FY2016, Utkarsh received an in-principle approval from RBI to set up a Small Finance Bank, and the banking operations commenced in 2017. CoreInvest now holds the promoter stake in Utkarsh Small Finance Bank.

Utkarsh CoreInvest began as a microfinance institution in Varanasi in 2009, offering credit under the Joint Liability Group model. It later expanded into micro enterprise loans, housing loans, and micro pension products. In FY2016, it received RBI's in-principle approval to establish a Small Finance Bank, which was launched in 2017. The company is incorporated in Uttar Pradesh with CIN U65191UP1990PLC045609.

About Utkarsh CoreInvest

Utkarsh CoreInvest Limited (formerly Utkarsh Micro Finance Limited) is the 100% holding company of Utkarsh Small Finance Bank Limited (USFBL), one of India's leading small finance banks. Incorporated on 15 May 1990 and headquartered in Varanasi, Uttar Pradesh, Utkarsh CoreInvest holds all equity shares of the bank and serves as the promoter institution that brought Utkarsh from a microfinance lender to a full-service small finance bank. The journey began when the company commenced microfinance operations in September 2009 under the name Utkarsh Micro Finance, providing financial services to the unbanked and underbanked population of eastern India — primarily UP, Bihar, and Jharkhand. Utkarsh Small Finance Bank received its banking licence from the Reserve Bank of India (RBI) in 2017, transitioning from an NBFC-MFI to a scheduled commercial bank. Utkarsh Small Finance Bank is now listed on Indian stock exchanges (NSE: UTKARSHBNK), having completed its IPO in July 2023. However, Utkarsh CoreInvest Limited — the holding company — remains unlisted. This creates an investment case where investors can gain indirect exposure to the bank at a discount through the unlisted holding company, as holding company shares often trade at a discount to the underlying bank's listed market value. As of FY2024, Utkarsh CoreInvest generated consolidated revenue of approximately ₹3,380 Crore — driven entirely by the banking operations of its wholly-owned subsidiary. The authorized share capital of Utkarsh CoreInvest is ₹100 Crore with paid-up capital of ₹99.13 Crore. In February 2024, Utkarsh Small Finance Bank announced a proposal to explore a reverse merger with Utkarsh CoreInvest, which would effectively merge the holding company into the listed bank entity. If executed, this would result in Utkarsh CoreInvest shareholders receiving listed bank shares directly, eliminating the holding company discount. Institutional investors in Utkarsh CoreInvest include Lok Capital, a prominent impact investor, along with other Series E investors who backed the company's growth journey. The Utkarsh group was co-founded by Ashwani Kumar (who serves as MD & CEO of the bank) and Govind Singh. The management team has strong credentials in the microfinance and banking sector, having built a franchise serving rural and semi-urban customers across multiple states.

Key Milestones

Common questions about unlisted shares

How do I buy Utkarsh CoreInvest unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Utkarsh CoreInvest Limited

How settlement works

Get price alerts for Utkarsh CoreInvest Limited

Discuss Utkarsh CoreInvest

Similar companies

Other ways to invest