The Utkarsh Small Finance Bank IPO made a strong debut on the stock exchanges today, listing at ₹40 per share, a premium of 60% over the upper end of the price band of ₹25. The strong listing was in line with expectations. The company has a strong track record of growth, and its financial performance has been improving in recent years. Utkarsh SFB is well-positioned to benefit from the growth of the SFB sector, as it has a strong focus on underserved segments of the population. After listing at such a level, we will suggest booking this gain; however, aggressive investors can choose to buy during any subsequent dip.