Utkarsh Small Finance Bank NCD allotment worth ₹300 crore received approval from its Capital Structuring & Fund Raise Committee on September 25, 2026, the bank said in a BSE filing. The private placement comprises 30,000 non-convertible debentures with a face value of ₹1 lakh each.

The bank specified a coupon of 11.75% per annum, payable quarterly, in its allotment disclosure. It described the instruments as rated, listed, unsecured, subordinated, redeemable Lower Tier II bonds in the form of NCDs.

The committee approved the allotment under authority granted by the board of directors. The disclosure was submitted under Regulations 30 and 51 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015.

Seven-year tenure and proposed BSE listing

The accompanying annexure sets out the issue’s principal terms, including its duration, placement route and proposed trading venue:

  • Tenure: Seven years from the date of allotment.
  • Issue structure: Private placement of NCDs to eligible investors.
  • Proposed listing: The Wholesale Debt Market segment of BSE Limited.
  • Security: The NCDs are unsecured, with no charge over assets specified.

The main disclosure confirms approval for allotting 30,000 NCDs, while the annexure describes the issue limit as up to 30,000 securities. Both sections state an aggregate issue size of ₹300 crore.

Similarly, the annexure gives the coupon ceiling as up to 11.75% per annum, payable quarterly, while the main allotment disclosure specifies the coupon at 11.75%. The filing does not identify the eligible investors receiving the securities or provide a specific credit-rating grade.

Other disclosures in the filing

The bank reported no delay exceeding three months or default in payment of interest or principal in the relevant annexure entry. It also reported no letters or comments concerning payment or non-payment on due dates, or other matters concerning the securities or assets.

Special rights, interests or privileges attached to the instruments were marked not applicable. Cancellation or termination of the issuance proposal was also marked not applicable.

The disclosure was signed by Muthiah Ganapathy, Company Secretary & Compliance Officer. The bank said it would also make the disclosure available on its website.

Source: BSE corporate announcement.