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Shares of Utkarsh SFB rallied nearly 15% after the lender announced the allotment of over 5.71 crore shares to ace investor Madhusudan Kela’s fund
Utkarsh SFB Share Price
Shares of Utkarsh Small Finance Bank (SFB) rallied nearly 15% on October 24 after the lender announced the allotment of over 5.71 crore shares to ace investor Madhusudan Kela’s fund house, Cohesion MK Best Ideas Sub-Trust, as part of its ongoing rights issue. The stock hit an intraday high of Rs 21.10 apiece earlier in the day before paring some gains to trade over 12% higher at Rs 20.58 around 1:40 pm.
While Kela’s fund received the largest allotment in the rights issue, several marquee investors also participated. These included India Capital Fund Ltd, Mauritius (4.4 crore shares), Kotak Mahindra Life Insurance Company (4.21 crore shares), ICICI Prudential Life Insurance Company (3.57 crore shares), FLC Investco, LLC (2.86 crore shares), Singularity Large Value Fund III (2.86 crore shares), and the Massachusetts Institute of Technology (2.79 crore shares).
Earlier this month, Utkarsh SFB’s board approved a rights issue of 67.79 crore shares to raise up to Rs 949 crore at Rs 14 per share. The issue opened on October 24 and will close on November 3.
In terms of performance, Utkarsh SFB’s share price has gained over 16% in the past five days and more than 13% in the last month. However, the stock is still down 6% over the past six months and about 28% so far in 2025. The lender had made a strong debut on the bourses in July 2023, listing at a 60% premium to its IPO price of Rs 25 per share, at Rs 40 per share. Currently, the stock trades more than 47% below its listing price, though it remains slightly above its IPO issue price.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 24, 2025, 15:12 IST
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