Equitas Small Finance Bank grants 3 lakh ESOPs at ₹77.08

Equitas Small Finance Bank has granted 3,00,000 stock options to an eligible employee at an exercise price of ₹77.08 per share. The grant, approved by the Nomination & Remuneration Committee on June 24, 2026, is governed by the ESFB Employees Stock Option Scheme, 2019, which complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The shares arising from the exercise of these options will rank pari-passu with existing equity shares, including dividend rights. The options were granted at the market price as defined under the relevant SEBI regulations.

Vesting Schedule

The ESOPs will vest over a period of four years from the date of grant, with 25% vesting annually. The vesting is contingent upon continuity of service and performance assessment by the Nomination & Remuneration Committee or the Board.

Vesting Tranche	Vesting Date	Performance Period	No. of Options	Vesting Criteria
1st Vesting	Year 1 (Jun’27)	FY 25-26	75,000	50% continuity of service, 50% performance assessment
2nd Vesting	Year 2 (Jun’28)	FY 26-27	75,000	50% continuity of service, 50% performance assessment
3rd Vesting	Year 3 (Jun’29)	FY 27-28	75,000	50% continuity of service, 50% performance assessment
4th Vesting	Year 4 (Jun’30)	FY 28-29	75,000	50% continuity of service, 50% performance assessment

Exercise Details

The options can be exercised within three years from the date of vesting. Each stock option, upon exercise, will entitle the holder to one equity share of ₹10 each. The filing was made to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.48%	-4.46%	+13.03%	+21.78%	+12.43%	+28.01%

Equitas Small Finance Bank has received board approval to raise funds totalling ₹1,750 crores through a mix of debt and equity, alongside the re-appointment of its Managing Director & Chief Executive Officer. The decisions were taken at the board meeting held on June 24, 2026, which also addressed significant changes in the bank's senior management personnel.

Fundraising Plans

The board approved enabling resolutions to seek shareholder approval at the ensuing Tenth Annual General Meeting to raise capital. This includes the issuance of Rated, Listed, Unsecured, Subordinated, Redeemable Non-Convertible Debentures or bonds on a private placement basis for an aggregate amount not exceeding ₹500 crores. Additionally, the board greenlit raising ₹1,250 crores through a Qualified Institutions Placement (QIP) by issuing equity shares or other eligible securities in one or more tranches. Both proposals are subject to regulatory approvals.

The following table summarises the approved fundraising details:

Parameter:	Details
Debt Securities (NCD/Bonds)	₹500 crores
Qualified Institutions Placement (QIP)	₹1,250 crores
Total Fundraise	₹1,750 crores
Placement Basis (Debt)	Private Placement
Instrument (QIP)	Equity Shares / Eligible Securities

Leadership and Management Changes

Basis approval from the Reserve Bank of India, the board approved the re-appointment of Mr. Vasudevan P N as the Managing Director & Chief Executive Officer for a period of three years with effect from July 23, 2026, up to July 22, 2029, subject to shareholder approval. The board also approved the re-appointment of Mrs. Geeta Dutta Goel as an Independent Director for a second term effective from December 27, 2026, to December 26, 2029.

In key managerial personnel changes, Mr. N Sridharan will retire as Chief Financial Officer (CFO) upon superannuation on June 30, 2026. The board appointed Mr. Mukund Shyamrao Barsagade as the new CFO effective July 01, 2026. Furthermore, Mr. Sibi P.M ceased to be the Chief Risk Officer (CRO) from July 01, 2026, and Mr. Taraka Ramana Prathipati was appointed as the Interim CRO for a period of six months effective from the same date.

Tenth Annual General Meeting

The board approved the conduct of the Tenth Annual General Meeting on September 09, 2026, at 11:00 A.M. via Video Conferencing. The meeting will seek shareholder approval for the enabling resolutions regarding the capital raise and the re-appointments of the MD & CEO and the Independent Director.