Utkarsh Small Finance Bank Soars 20% After Allotting Shares to Madhusudan Kela’s Fund

Shares of Utkarsh Small Finance Bank (USFB) surged nearly 20% on Thursday after the lender announced the allotment of 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 ₹22.02 apiece during afternoon trade on the NSE, with sharp buying interest seen across smallcap financial counters. While Cohesion MK Best Ideas Sub-Trust received the largest allotment, other major participants in the rights issue include: India Capital Fund Ltd, Mauritius: 4.4 crore shares Kotak Mahindra Life Insurance Co.: 4.21 crore shares ICICI Prudential Life Insurance Co.: 3.57 crore shares FLC Investco, LLC: 2.86 crore shares Singularity Large Value Fund III: 2.86 crore shares Massachusetts Institute of Technology (MIT): 2.79 crore shares Earlier this month, USFB’s board had approved a rights issue of up to 67.79 crore shares, aiming to raise ₹949 crore at ₹14 per share. The issue opened today and will close on November 3, 2025. In the past five trading sessions, the stock has gained 22%, extending its monthly rise to nearly 18%. However, it remains down 25% in 2025 so far, and about 45% below its listing price of ₹40 on debut in July 2023. The shares still trade about 10% above the IPO price of ₹20. #UtkarshBank #SmallFinanceBank #MadhusudanKela #CohesionCapital #RightsIssue #BankingStocks #MidcapStocks #FinancialSector #StockMarketIndia #BSE #NSE #StockNews #MarketUpdate #Investing #IPOStocks #IndianMarkets #StockMarketToday #UtkarshSFB