Utkarsh Small Finance Bank announces rights issue to raise ₹9.49 bn

Utkarsh Small Finance Bank's board of directors approved the terms for a rights issue on October 8, 2025, following in-principle approvals from BSE Limited and National Stock Exchange of India Limited. The bank will issue 677,913,784 fully paid-up equity shares with a face value of ₹10 each, targeting an aggregate amount not exceeding ₹9,490,792,976, assuming full subscription.

The rights issue price is fixed at ₹14 per fully paid-up equity share, including a premium of ₹4 per share. The entire issue price will be payable at the time of application. The rights entitlement ratio is 8 fully paid-up rights equity shares for every 13 fully paid-up equity shares held by eligible shareholders as of the record date, Tuesday, October 14, 2025.

The rights issue opens on Friday, October 24, 2025, and closes on Monday, November 03, 2025. Trading of rights entitlements will cease on Tuesday, October 28, 2025, with the last date for off-market renunciation on Friday, October 31, 2025. DAM Capital Advisors Limited is acting as advisor, and CMS IndusLaw as legal counsel for the rights issue.