Suryoday Small Finance Bank has approved proposals to raise ₹500 crore through a mix of equity and debt instruments to bolster its capital base. The Board of Directors, meeting on June 25, 2026, authorized raising up to ₹300 crore in Tier 1 capital and ₹200 crore in Tier 2 capital. Additionally, the bank fixed Friday, July 17, 2026, as the record date to determine shareholder eligibility for the final dividend, subject to approval at the 18th Annual General Meeting (AGM) scheduled for August 06, 2026.

Capital Fundraising Proposal

The Board authorized raising up to ₹300 crore in Tier 1 capital through equity shares, warrants, or equity-linked securities. These instruments may be issued via rights issue, preferential allotment, private placement, or Qualified Institutions Placement. Simultaneously, the bank seeks approval to raise ₹200 crore through Tier 2 debt instruments, including bonds and Non-Convertible Debentures. Both approvals will remain valid for 12 months from the date of shareholder consent.

Dividend and Record Date

The record date of July 17, 2026, will be used to identify eligible members based on beneficial owner data from depositories and the Register of Members. The payment of dividend, if declared by shareholders at the AGM, will be subject to tax deduction at source as applicable.

Board Decisions and AGM

The Board approved the re-appointment of Mr. Ranjit Jayant Shah as Non-Executive Non-Independent (Investor) Director. His term will extend until November 01, 2026, completing his permissible eight-year tenure under the Banking Regulation Act, 1949. The Board also sanctioned modifications to the Suryoday ESOP Scheme, 2019. The 18th AGM will be convened via video conferencing on August 06, 2026.

Suryoday Small Finance Bank has appointed Mr. Sunil Satyapal Gulati and Mr. Alok Sethi as Independent Directors for a term of five years effective from March 12, 2026, to March 11, 2031. The appointments were approved by shareholders through a remote e-voting process conducted between May 10, 2026, and June 08, 2026. The resolutions received overwhelming support, with over 99.99% of votes cast in favour, ensuring the governance structure is strengthened with experienced professionals.

The postal ballot sought shareholder approval for two special resolutions regarding the appointment of the directors. Mr. Sunil Satyapal Gulati (DIN: 00016990) and Mr. Alok Sethi (DIN: 00277481) were appointed as Non-Executive Independent Directors. The total number of shareholders on the record date, May 01, 2026, was 93,587. The scrutinizer's report confirmed that the resolutions were passed with the requisite majority.

Voting Results

The detailed voting results for the special resolutions are outlined below:

Shareholder Participation

The voting process saw participation from various categories of shareholders. The total number of votes polled for the resolution appointing Mr. Sunil Satyapal Gulati was 4,06,14,143, representing 38.2108% of the total outstanding shares. For the resolution appointing Mr. Alok Sethi, the total votes polled were 4,06,14,152, also representing 38.2108% of the total outstanding shares.

Director Profiles

Mr. Sunil Satyapal Gulati brings over three decades of experience in the banking industry, having held key positions at RBL Bank, Yes Bank, and ING Group. He holds 22,000 Equity Shares of the Bank. Mr. Alok Sethi is a senior global executive with extensive experience in asset management operations and technology, having served as Executive Vice President at Franklin Templeton. He holds 20,000 Equity Shares of the Bank. The appointments are effective immediately as per the resolutions passed.