DLS Law Offices Advises Kotak Life Insurance on Rs 60 Crore Rights Entitlement Acquisition

DLS Law Offices has successfully advised Kotak Mahindra Life Insurance Company Limited (KLI) in the acquisition of Rights Entitlements for participating in the rights issue of Utkarsh Small Finance Bank Ltd. The transaction marks a significant strategic investment by KLI and was executed within an accelerated timeline.

Under the deal, Utkarsh CoreInvest Ltd., the promoter and holding company of Utkarsh Small Finance Bank, renounced its Rights Entitlements in favour of KLI. This enabled KLI to participate in the bank’s rights issue in accordance with Section 62 of the Companies Act, 2013.

The value of the acquisition is approximately ₹60 crores.

DLS Law Offices played a pivotal role in the successful execution of the transaction by:

• Advising on deal structuring and regulatory strategy
• Drafting and negotiating all definitive transaction documents
• Ensuring compliance with the SEBI ICDR Regulations and the Companies Act, 2013
• Coordinating with multiple stakeholders to complete the transaction smoothly and swiftly

The DLS client coordination was led by Mr. Shakil Ahmad and Mr. Ishpal Singh Sethi from Kotak Life Insurance.
The DLS deal team comprised Mr. Dipti Lavya Swain (Partner), Ms. Tanya Jaani (Associate), and Ms. Sakshi Upadhyay (Junior Associate).

This transaction highlights DLS Law Offices’ continued expertise in complex capital markets and regulatory-driven transactions, further strengthening its position as a leading advisor in the financial services sector.