A meeting of the Board of Directors of Utkarsh Small Finance Bank Ltd. is scheduled for October 01, 2025, to consider the proposal of fund raise by way of issuance of equity shares, the bank informed in an exchange filing on Sunday.
The bank is considering raising funds through the issuance of equity shares. The intimation was sent to BSE Ltd. and the National Stock Exchange of India.
Earlier in February, the bank approved plans to raise up to Rs 750 crore via share sale. The shares were to be sold via qualified institutions placement, preferential issue, private placements, further public offer and other permitted modes in one or more tranches.
Notably, in January The Reserve Bank of India approved the amalgamation of Utkarsh CoreInvest Ltd. with Utkarsh Small Finance Bank Limited, the board of Utkarsh Small Finance Bank had approved the merger with its parent company in September last year, with the aim to simplify operations, enhance shareholder value, and create a stronger entity.
The merger of Utkarsh Small Finance Bank with parent Utkarsh CoreInvest Ltd. was scheduled to be completed within the next 12-13 months starting January, Chief Executive Officer and Managing Director Govind Singh had told NDTV Profit in October.
Utkarsh Small Finance Bank was incorporated on April 30, 2016, and is engaged in providing banking and financial services with a focus on providing microfinance to the underserved section, as per the company's official website.
The Bank's lending activities are primarily focused in rural and semi-urban locations of the country while its other services are spread across the country. The Bank commenced its operations on January 23, 2017, pursuant to the small finance banking licence granted by RBI on November 25, 2016.
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