Utkarsh SFB to mull fund raising of Rs 200 cr via NCDs

Utkarsh Small Finance Bank informed that its board is scheduled to meet on Friday, 20 September 2024 for raising of funds by issuance of Tier II capital aggregating up to Rs 200 crore through issue of non- convertible debentures (NCDs).

Utkarsh Small Finance Bank is engaged in providing banking and financial services with a focus on providing financial services to the underserved and unserved sections. The bank's microfinance lending activities are primarily focused in rural and semi-urban locations of the country while its other services are spread across the country.

The bank's standalone net profit jumped 27.81% to Rs 137.39 crore in Q1 FY25 as against Rs 107.49 crore recorded in Q1 FY24.Total income stood at Rs 1,070.56 crore in Q1 FY25, registering a growth of 31.78% from Rs 812.39 crore reported in the corresponding quarter previous year.

Shares of Utkarsh Small Finance Bank rose 0.31% to Rs47.93 on the BSE.

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