Equitas Small Finance Bank board approves 1,750cr bonds and QIP
Equitas Small Finance Bank just announced it is planning to raise a hefty ₹1,750 crore.
The money will come from private placements of bonds and by offering shares or convertible securities through QIP.
This move was decided at its board meeting on June 24, but it still needs shareholder and regulatory approvals before anything is official.
Equitas retains Vasudevan, Barsagade appointed
Out of the total, ₹500 crore will be raised via bonds, while the remaining ₹1,250 crore comes from QIP or new shares issued in stages.
Shareholders will vote on this plan at the bank's upcoming AGM.
On the leadership front: Vasudevan P N is staying on as MD and CEO for another three years starting July 2026; Geeta Dutta Goel is also sticking around as independent director.
Meanwhile, CFO N Sridharan retires soon. Mukund Shyamrao Barsagade steps in from July 1.