Suryoday Small Finance Bank shareholders have rejected the bank's proposal to raise funds up to ₹1,000 crore through various financial instruments. The postal ballot results announced on March 02, 2026, revealed that the fund raising resolution received only 60.51% votes in favor, falling short of the required 75% majority for special resolutions.

Postal Ballot Results Overview

The e-voting process concluded on February 28, 2026, with results scrutinized by Ms. Dhara Gala, Practicing Company Secretary. Out of 99,866 total shareholders on the record date of January 23, 2026, the voting participation was significant across different categories:

Fund Raising Proposal Details

The rejected proposal sought shareholder approval for raising funds through multiple instruments including equity shares, equity-linked securities, warrants, and other eligible securities. The bank had planned various methods such as preferential allotment, qualified institutions placement, private placement, and rights issue.

Director Reappointment Approved

In contrast to the fund raising rejection, shareholders overwhelmingly approved the reappointment of Mr. Krishna Prasad Nair as Non-Executive Independent Director with 99.68% votes in favor. His new term will commence after July 21, 2026, for a period of three years.

Strong Opposition from Public Shareholders

The voting pattern revealed significant opposition from public shareholders, particularly institutional investors who voted 92.80% against the fund raising proposal. While the promoter group supported the resolution with 100% votes in favor, public institutions and non-institutional shareholders expressed strong dissent, ultimately leading to the proposal's failure.

Current Financial Position

Despite the fund raising rejection, the bank maintains robust capital adequacy ratios that exceed regulatory requirements. As previously disclosed, the bank's CRAR stands at 21.90% against the regulatory requirement of 15.00%, and Tier I Capital Ratio at 21.00% versus the required 7.50%, indicating strong financial health and adequate capitalization for current operations.

Suryoday Small Finance Bank Limited announced significant senior management appointments following its Board of Directors meeting held on February 12, 2026. The board approved the re-appointment of its Chief Risk Officer and the appointment of a new Chief of Internal Vigilance, both critical roles for the bank's governance and risk management framework.

Chief Risk Officer Re-appointment

The board re-appointed Mr. Yogesh Dixit as Chief Risk Officer for an additional term from April 1, 2026, to March 31, 2027. This decision was made based on recommendations from both the Nomination and Remuneration Committee and the Risk Management Committee of the Board, in accordance with RBI Master Circular No. RBI/DOR/2025-26/180 DOR.HGG.GOV.No. 99/29.67.001/2025-26 dated November 28, 2025.

Mr. Dixit brings over 36 years of extensive experience across financial institutions, spanning development finance, regulatory functions, and senior leadership roles in the credit rating industry. He has been associated with the bank since 2015 and has served as Chief Risk Officer since 2017. Over the years, he has played a pivotal leadership role in strengthening the bank's risk management framework, contributing significantly to its governance, risk oversight, and institutional stability.

Chief of Internal Vigilance Appointment

The board also approved the appointment of Mr. Sudheer Kamble as Chief of Internal Vigilance, effective March 1, 2026. This appointment follows recommendations from the Audit Committee of the Board and the Nomination and Remuneration Committee of the Board, continuing from the bank's earlier communication dated September 30, 2025.

Mr. Kamble brings over 30 years of experience in Finance and Internal Audit, having commenced his career in 1995. He has been associated with the bank since 2009 and has played a pivotal role in shaping and strengthening the branch audit framework. His deep understanding of the bank's products, processes, and branch network, coupled with his strong audit acumen, makes him a suitable candidate for the role of Chief of Internal Vigilance.

Regulatory Compliance

Both appointments were made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with various SEBI circulars including SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and the latest SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The board meeting commenced at 4:00 p.m. and concluded at 6:30 p.m. on February 12, 2026. The bank has confirmed that detailed information regarding these appointments will be made available on its website at the investor corner section for appropriate dissemination to stakeholders.