@Dheeraj Luthra "Since the monetary assets of our Bank for Fiscals 2021, 2022 and 2023 comprise more than 50% of net tangible assets for Fiscals 2021, 2022 and 2023, calculated on a restated basis, our Bank does not satisfy the eligibility requirements prescribed under Regulation 6(1) (a) of the SEBI ICDR Regulations. Therefore, the Issue is being undertaken under Regulation 6(2) of the SEBI ICDR Regulations."
👆this is copy pasted from page 395-396 of Rhp of Utkarsh SFB.
You are also requested go through sebi icdr regulations 2022 clause 6(1) and 6(2) for better understanding of these criterias.