Monday, 03 November 2025 – CMS INDUSLAW acted as the legal counsel to Utkarsh Small Finance Bank Limited on the issuance of its equity shares through a rights issue aggregating to INR 950 crores.
Utkarsh Small Finance Bank Limited is engaged in providing banking and financial services with a focus on providing microfinance to the rural and semi-urban locations of the country.
This is one of the first rights issue in the market to utilize the specific investor route (as renounces to the promoters) as enabled by SEBI in its amendments earlier this year. The transaction is one of its kind and is exploring the new fund-raising structure.
The CMS INDUSLAW Capital Markets and Public M&A comprising Kaushik Mukherjee (Partner), Anupam Chaudhary (Principal Associate), Anumeha Agrawal (Senior Associate) and Riya Sethia (Associate) advised on this transaction.
The CMS INDUSLAW Tax Team comprising Lokesh Shah (Partner), Gaurav Goyal (Principal Associate) and Aarya Jha (Associate) also advised.