Utkarsh Bank board approves raising up to INR 750 crore

Utkarsh Small Finance Bank (BSE: UTKARSHBNK) announced that its Board of Directors has approved raising up to ₹750 crore through the issuance of equity shares. The decision was made at a board meeting held on February 26, 2025. The funds will be raised through various methods, including Qualified Institutions Placements (QIP), preferential issues, private placements, and/or other permitted modes under applicable laws. The issuance is subject to shareholder approval and regulatory clearances. The bank also plans to seek shareholder approval through a postal ballot for the issuance and related actions. The meeting concluded at 1:15 pm.