Utkarsh Small Finance Bank Ltd

Sale details

• Authorized Management Committee approved the sale proposal.
• Pool comprises stressed unsecured loans, NPAs and written-off loans.
• Aggregate principal outstanding up to ₹75.16 crore as of 31 Aug 2026.
• Sale consideration of ₹15.50 crore to a non‑banking financial company.
• Counterparty: a Non-Banking Financial Company.
• Approval date: 30 September 2026.
• Disclosure to be available on the bank's website.

Utkarsh Small Finance Bank Ltd trading window closed from October 01, 2026 till the expiry of 48 hours after the declaration of financial results of the Bank for the quarter and half year ending September 30, 2026.

NCD private placement details

• Approved allotment of 30,000 unsecured, subordinated Lower Tier II NCDs on private placement.
• Face value ₹1,00,000 per NCD; total size ₹300 crore.
• Coupon rate 11.75% per annum, payable quarterly.
• Tenure seven years from the allotment date.
• Unsecured instruments with no collateral over assets.
• Listed on the Wholesale Debt Market segment of BSE.
• Issuance to eligible investors under private placement rules.
• Board approval provided by Capital Structuring & Fund Raise Committee.
• No defaults reported; interest/principal payments to follow quarterly schedule.

Appointment of CFO and KMP

• Board approved appointment of Mr. Manmohan Shetty as CFO and KMP, effective 19 September 2026.
• Appointment disclosed under SEBI Listing Regulations with Annexure I detailing terms.

NCD issuance details

• Issuance of rated, listed, unsecured Subordinated Tier II NCDs via private placement.
• Total size: base ₹200 crore, green shoe up to ₹100 crore, aggregate ₹300 crore.
• Face value of ₹1,00,000 per NCD; up to 30,000 securities.
• Tenure seven years from deemed date of allotment.
• Coupon up to 11.75% per annum, payable quarterly.
• NCDs unsecured; no collateral or secured debt.
• Listed on BSE Wholesale Debt Market, subject to in-principle approval.
• Instruments to be issued on private placement to eligible investors.
• Draft GID and KID prepared under SEBI NCS Master Circular.
• CSFRC meeting held Sep 11, 2026; approvals subject to regulatory/statutory clearances.

Instruments Rated

• Proposed Tier II Bonds ₹500 crore rated CARE A-; Stable; assigned.
• Existing Tier II Bonds ₹200 crore rated CARE A-; Stable; reaffirmed.

Agency

• Agency: CARE Ratings Limited.

Rationale

• Notes adequate safety and low credit risk.

Outlook

• Outlook: Stable for both ratings.

Material Change

• New rating for proposed Tier II bonds; existing reaffirmed.

Meeting Details

• Date and time: September 2, 2026, 10:00 AM IST onwards.
• Meeting type and mode: Group conference and one-to-one, in person.
• Event/organiser: Ashwamedh – Elara India Dialogue 2026.
• Company participants: Utkarsh Small Finance Bank management.
• Purpose: investor interaction with analysts and institutional investors.
• Disclosures available on bank's website.

ESG rating update

• ESG risk score 63 assigned to Utkarsh Small Finance Bank Ltd by ESG Risk Assessments and Insights Limited.
• Based on publicly available information, report received on August 20, 2026 at 04:26 p.m. IST.
• Disclosure will be available on the Bank's website.

Core Banking Migration

• Downtime for Core Banking migration scheduled Aug 21, 2026 10:00 PM to Aug 24, 2026 6:00 AM.
• All banking services will be unavailable during the downtime.
• Migration aims to enhance customer experience through technology modernization.
• Comprehensive migration plan includes risk mitigation, business continuity arrangements, and customer communications.
• Disclosure will be published on Utkarsh Small Finance Bank's website.

ESG rating update

• SES ESG Research Pvt. Ltd. assigned ESG score of 71.80 to Utkarsh Small Finance Bank.
• Rating received on August 16, 2026 at 08:41 p.m. IST.
• Disclosure will be published on the Bank's website.
• No material financial impact disclosed.