Date: July 22, 2026

Board Meeting Outcomes

Utkarsh Small Finance Bank Limited has exercised its call option to redeem its Rated, Listed, Unsecured, Sub-ordinated, Redeemable, Lower Tier II Bonds in the form of Non-Convertible Debentures (NCDs). The decision follows approval from the Board Committee obtained on July 21, 2026, for execution of a Supplementary Debenture Trust Deed to the original Debenture Trust Deed dated June 26, 2020.

Call Option Details

Instrument Details:

  • Nature: Rated, Listed, Unsecured, Sub-ordinated, Redeemable, Lower Tier II Bonds in the form of NCDs
  • Face Value: ₹10,00,000 per NCD
  • Date of Allotment: June 26, 2020
  • Issue Size: ₹195,00,00,000 (One Hundred Ninety Five Crore)
  • Maturity Date: June 26, 2027

Call Option Exercise:

  • Call Option Date: August 13, 2026
  • Record Date: July 29, 2026
  • Redemption Amount: ₹1,98,20,54,795 (One Hundred Ninety Eight Crore Twenty Lakh Fifty Four Thousand Seven Hundred Ninety Five)
  • Principal Amount: ₹195,00,00,000
  • Accrued Interest: ₹3,20,54,795

Regulatory Compliance:

The call option exercise is being undertaken pursuant to:

  • Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Regulation 15 of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021
  • SEBI Master Circular dated January 30, 2026
  • Prior approval obtained from Reserve Bank of India (RBI)

Terms of Redemption:

The Bank is entitled to exercise its Call Option for early redemption of the Debentures in full on "any date falling 60 (Sixty) months after the Deemed Date of Allotment i.e. any date on or after June 26, 2025", subject to obtaining prior approval of RBI.

Payment Mechanism:

  • The Redemption Amount shall be paid on August 13, 2026
  • Payment will be made by crediting to bank accounts registered with the demat account
  • Where electronic credit is not feasible, payment will be made by cheque/demand draft dispatched to the address of the Eligible Debenture Holder
  • The Redemption Amount shall be subject to deduction of applicable taxes

Consequences of Redemption:

Upon payment of the Redemption Amount, the Debentures shall stand fully redeemed and extinguished, and no claim or right whatsoever shall subsist against the Bank in respect of the said Debentures thereafter.

Additional Information:

  • Debenture Trustee: IDBI Trusteeship Services Limited, Universal Insurance Building, Ground Floor, Sir P.M. Road, Fort, Mumbai- 400 001
  • The notice has been dispatched to Debenture holders and the Debenture Trustee through electronic mode
  • The disclosure is available on the Bank's website: www.utkarsh.bank.in
  • Copy has been sent to National Securities Depository Limited, Central Depository Services (India) Limited, NSDL Database Management Limited, and IDBI Trusteeship Services Limited