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Utkarsh CoreInvest Limited, formerly Utkarsh Micro Finance Limited, is an RBI-regulated non-deposit-taking systemically important core investment company. Its FY2024-25 report identifies it as the holding company. Before becoming a core investment company, the entity used a group-lending methodology to provide small-value unsecured bank loans to lower-income groups below the poverty line in urban and rural areas. During FY2016-17 it transferred its microfinance business, and almost all assets and liabilities other than certain statutory assets, a vehicle and statutory liabilities, to its subsidiary Utkarsh Small Finance Bank Limited under a business transfer agreement. RBI approved the company to carry on the CIC-ND-SI business on 3 May 2018. The FY2024-25 financial statements consequently distinguish the UCL standalone entity from consolidated group results. This description does not treat the historical microfinance lending activity as a current direct UCL operating activity.
About this company
Utkarsh CoreInvest Limited, formerly known as Utkarsh Micro Finance Limited, is a Varanasi-headquartered non-banking financial company that operates as a Core Investment Company (CIC) under the regulatory framework of the Reserve Bank of India. Incorporated in 1990, the firm began its journey as a microfinance lender focused on extending small-ticket credit to underserved and financially excluded households across northern and eastern India. In 2018, following the group's transition into the banking space, the entity was restructured from a microfinance operating company into a holding company and renamed Utkarsh CoreInvest Limited. Today, the company functions primarily as the promoter and holding vehicle for Utkarsh Small Finance Bank Limited, holding a substantial majority stake in the bank. This positions Utkarsh CoreInvest as an upstream parent whose value is closely tied to the performance, growth, and market valuation of its banking subsidiary, which serves customers through a network spanning microfinance, retail liabilities, and small-ticket lending. The Core Investment Company structure means CoreInvest itself does not undertake direct lending operations but instead manages and consolidates its investment in the regulated banking entity. The company traces its roots to the financial inclusion movement, and its legacy promoters and institutional investors have historically included development finance institutions and private equity participants drawn to India's small finance banking sector. Its leadership includes nominee and independent directors alongside management overseeing the holding company's affairs. In the unlisted market, Utkarsh CoreInvest draws interest largely because it offers indirect exposure to the listed small finance bank through a holding-company lens, with the two entities valued separately by participants. The holding-company discount, the bank's operating metrics, and broader sentiment toward the small finance banking segment are among the factors that shape how its shares are discussed and quoted off-market. As a public company whose equity is not traded on any stock exchange, its shares change hands privately, with quoted figures serving only as indicative reference points rather than exchange-determined prices.
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COMMON QUESTIONS.
Is Utkarsh Micro Finance(Core Invest) listed on the stock exchange?+
No. As of 2 September 2026, Utkarsh Micro Finance(Core Invest) is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.
What is the Utkarsh Micro Finance(Core Invest) unlisted share price?+
As of 2 September 2026, the indicative unlisted share price of Utkarsh Micro Finance(Core Invest) is ₹195 per share. This is an over-the-counter reference price, not a stock-exchange quote.
What indicative minimum amount is displayed for Utkarsh Micro Finance(Core Invest) unlisted shares?+
The displayed unit count is 55 share(s); at the indicative price of about ₹195, the displayed amount is approximately ₹10,725. This is a display convention, not evidence of inventory, an order minimum or a quote.
What is the ISIN of Utkarsh Micro Finance(Core Invest)?+
The recorded ISIN of Utkarsh Micro Finance(Core Invest) is INE396P01012. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.
Is trading in Utkarsh Micro Finance(Core Invest) unlisted shares legal in India?+
Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.
Is there a lock-in period for unlisted shares?+
A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.
Do you guarantee returns?+
No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.