Equitas Small Finance Bank's board has approved proposals to raise capital and will seek shareholder approval at the bank's 10th Annual General Meeting (AGM) scheduled for September 9, 2026. The approvals were announced through a regulatory filing dated June 24, 2026.
The bank has proposed raising funds through a combination of debt instruments and equity-linked issuances, subject to approvals from shareholders and regulators.
The board approved an enabling resolution for raising up to ₹1,250 crore through a Qualified Institutions Placement (QIP). The issue may involve equity shares, warrants, or other securities convertible into equity.
The fundraising can be carried out in one or more tranches through a QIP or any other route permitted under applicable regulations. The proposal will be placed before shareholders at the upcoming AGM.
In a separate proposal, the board approved raising up to ₹500 crore through non-convertible debt securities on a private placement basis.
The proposed instruments may include listed and rated non-convertible debentures, bonds, or other debt securities. These securities are proposed to be unsecured, subordinated, and redeemable in nature.
Together, the two proposals provide a fundraising capacity of up to ₹1,750 crore.
Along with the capital-raising plans, the board approved the reappointment of P N Vasudevan as Managing Director and Chief Executive Officer for a 3-year term from July 23, 2026, to July 22, 2029, subject to shareholder approval.
Independent Director Geeta Dutta Goel was also reappointed for a second term of three years beginning December 27, 2026. Both appointments will be placed before shareholders for approval at the AGM.
Chief Financial Officer N Sridharan will retire on June 30, 2026. The board approved the appointment of Mukund Shyamrao Barsagade as CFO with effect from July 1, 2026.
The bank also appointed Taraka Ramana Prathipati as Interim Chief Risk Officer for a 6-month period starting July 1, 2026, following the completion of the current CRO's term.
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As of June 24, 2026, 3:30 pm, Equitas Small Finance Bank share price closed at ₹76.84, down 0.31% from the previous closing price.
The bank has received board approval for multiple corporate actions, including plans to raise capital and changes in leadership positions. The proposals now await shareholder approval at the September AGM.
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Published on: Jun 24, 2026, 4:35 PM IST
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