Utkarsh Small Finance Bank Limited (USFBL) has approved a plan to raise ₹200 crore through the issuance of Non-Convertible Debentures (NCDs). The decision was made during the Board meeting held on September 20, 2024.
The proposed fundraise through Tier II Capital is part of the bank’s strategy to strengthen its capital base and support its future growth plans. The issuance of NCDs is within the bank’s borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
This capital infusion is expected to bolster the bank’s financial position and provide it with the resources to meet regulatory requirements and expand its operations.
