Utkarsh Bank Files for Rs 950 Cr Rights Issue

New Delhi, Oct 2 (PTI) Utkarsh Small Finance Bank on Thursday said it has filed papers for a Rs 950 crore rights issue to fund its business growth.

"We have filed the relevant applications with stock exchanges seeking their comments on the Draft Letter of Offer (DLOF) and/or in-principle listing approval for the captioned Rights Issue at the earliest," the bank said in a regulatory filing.

The bank received board approval to raise up to Rs 950 crore via a rights issue from its board of directors on Wednesday.

"The Board of Directors of the Bank, at its meeting held on October 1, 2025, has considered and approved the issuance of equity shares of the bank for an amount not exceeding Rs 950 crore by way of a rights issue," it said.

Rights issues allow existing shareholders to subscribe to new equity shares, typically at a discount to the prevailing market price, in proportion to their current holdings.