Utkarsh Small Finance Bank Limited has informed the Exchange regarding Notice of Court Convened General Meeting of the Equity Shareholders of the Bank to be held on March 28, 2026.
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Utkarsh Small Finance Bank has called a court-convened meeting of its equity shareholders for March 28, 2026 (via video conferencing) to seek approval for the amalgamation of its promoter company, Utkarsh CoreInvest Limited, into the bank. The meeting was directed by the NCLT Allahabad Bench via its order dated February 11, 2026, under Sections 230-232 of the Companies Act, 2013. The bank has already received RBI's no-objection (January 2, 2025) and BSE/NSE no-objection letters (July 2025) for the scheme. The appointed date for the amalgamation is April 1, 2025, and remote e-voting is open from March 25-27, 2026. Approval requires 75% majority by value of shareholders, plus a majority of public shareholders voting in favour.
Since the amalgamation is with the existing promoter entity (Utkarsh CoreInvest), shareholding of existing bank shareholders is largely expected to remain unchanged, though the swap ratio (detailed in the valuation and fairness opinion reports) will determine any dilution. Shareholders should review the scheme documents and vote during the March 25-27 e-voting window.