India: Utkarsh Micro Finance raises $59m from domestic investors, PE funds

India: Utkarsh Micro Finance raises $59m from domestic investors, PE funds

Photo: Reuters

Utkarsh Micro Finance Pvt. Ltd has raised Rs395 crore from domestic institutional investors in an effort to lower the foreign holding in the company below 49% and help the microlender in the transition to a small finance bank, said a senior executive.

Utkarsh is one of the 10 non-banking financial companies (NBFCs) that won a licence for a small finance bank.

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