"Utkarsh Small Finance Bank's ₹950 Crore Rights Issue: A Landmark Transaction Utilizing SEBI's New Investor Route"

"Utkarsh Small Finance Bank Limited has issued equity shares through a ₹950 crore rights issue, utilizing a new investor route enabled by SEBI amendments earlier this year. CMS INDUSLAW advised on the transaction, which is notable for exploring innovative fundraising structures. The bank focuses on providing microfinance services to rural and semi-urban areas."

CMS INDUSLAW participated in the transaction, advising Utkarsh Small Finance Bank Limited on its rights issue. The transaction involved the issuance of equity shares by Utkarsh Small Finance Bank Limited through a rights issue aggregating to ₹950 crore. This rights issue is notable for being one of the first in the market to utilize the specific investor route (as renounces to the promoters) enabled by SEBI amendments earlier this year. The transaction explores a new fund-raising structure and is considered one of its kind. The CMS INDUSLAW team was led by Kaushik Mukherjee (Partner), with support from Anupam Chaudhary (Principal Associate), Anumeha Agrawal (Senior Associate), and Riya Sethia (Associate). Tax law aspects of the transaction were advised by Lokesh Shah (Partner), Gaurav Goyal (Principal Associate), and Aarya Jha (Associate).

"Utkarsh Small Finance Bank's ₹950 Crore Rights Issue: A Landmark Transaction Utilizing SEBI's New Investor Route"

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