Utkarsh SFB Approves ₹300 Cr NCD Issuance
Utkarsh Small Finance Bank Ltd's Committee of Directors for the Board (CSFRC) has approved the issuance of Rated, Listed, Unsecured, Subordinated, Redeemable, Lower Tier II bonds in the form of Non-Convertible Debentures (NCDs). The issuance will be up to ₹200 crore base issue with a green shoe option of up to ₹100 crore, totaling ₹300 crore. These NCDs will have a face value of ₹1,00,000 each, a tenure of 7 years, and an interest rate of up to 11.75% per annum, payable quarterly. The issuance will be on a private placement basis to eligible investors and is subject to in-principle approval from BSE Limited and other necessary regulatory approvals. The bank also approved the draft General Information Document and Key Information Document for the issuance.
Key Highlights
- Utkarsh SFB to issue NCDs worth up to ₹300 crore.
- NCDs are Lower Tier II bonds with a 7-year tenure.
- Interest rate offered is up to 11.75% per annum, payable quarterly.
- Issuance will be on a private placement basis.
- NCDs are proposed to be listed on BSE Wholesale Debt Market.
Price Impact
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