Equitas Small Finance Bank Limited announced a postal ballot (e-voting) to seek shareholder approval for raising capital up to ₹1,250 crore through a Qualified Institutions Placement (QIP).
- The capital raise aims to augment the Bank's Tier I capital base to meet future growth and expansion requirements.
- The funds will be raised through the issuance of equity shares or other eligible securities.
- The e-voting period for eligible members will commence on Monday, June 23, 2025, at 9:00 A.M. (IST) and conclude on Tuesday, July 22, 2025, at 5:00 P.M. (IST).
- The cut-off date for determining eligible members for voting is Friday, June 13, 2025.
- The results of the postal ballot are expected to be declared on or before July 24, 2025.
- The QIP allotment will only be made to Qualified Institutional Buyers (QIBs), with a minimum of 10% allocated to mutual funds.
- The Board may offer a discount of not more than 5% to the QIP Floor Price.
- The allotment of securities will be completed within 365 days from the date of passing the special resolution.
- No single allottee will be allotted more than 50% of the QIP size.
- The securities allotted will be in dematerialized form and fully paid up, and will have a lock-in period of one year from the date of allotment, except for sales on a recognized stock exchange.