Utkarsh Small Finance Bank to Raise Up to ₹7.50 Billion through Equity Shares

Utkarsh Small Finance Bank Ltd has made plans to raise funds by issuing equity shares. The Board of Directors of the bank will meet on Wednesday, February 26, 2025, to deliberate on a proposal for raising up to ₹7.50 billion by issuing equity shares. This fund-raising exercise will be subject to regulatory and statutory approvals and shareholder approval. The bank is evaluating the different modes of equity issuance, such as a Qualified Institutional Placement (QIP) or other avenues as permitted under the law. The Board will also consider holding an extraordinary general meeting or launching a postal ballot process for procuring shareholders' approval for the proposed fundraise.

 

Source: Utkarsh Small Finance Bank Ltd regulatory filing