Investment26 Feb 2025, 09:03 pm
Utkarsh Small Finance Bank Approves Fundraising of Up to ₹ 750 Crore
AI Summary
Utkarsh Small Finance Bank Ltd. held a board meeting on 2025-02-26, during which they approved the issuance of equity shares having a face value of ₹ 10/- each for an aggregate amount up to ₹ 750 crore. The funds will be raised through Qualified Institutions Placements (QIP), preferential issue, private placements, further public offer, and/or other permitted modes under applicable laws in one or more tranches. The bank will also seek approval from shareholders and necessary regulatory/statutory approvals as required.
Key Highlights
- Approval for raising funds up to ₹ 750 crore
- Funds to be raised through QIP, preferential issue, private placements, further public offer, and/or other permitted modes
- Shareholders' approval and regulatory/statutory approvals to be obtained as required