Equitas Small Finance Bank Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
EQUITASBNK · price
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Equitas Small Finance Bank has secured shareholder approval through a Postal Ballot to raise up to Rs. 1,250 crores via a Qualified Institutions Placement (QIP) by issuing equity shares or other eligible securities to institutional investors. The resolution passed with overwhelming support — 99.46% of votes in favour and just 0.54% against, among 1,770 shareholders who cast votes out of 4,60,538 on record. Public institutional investors voted strongly in favour (99.97%), while non-institutional public shareholders showed 70.77% support. Notably, RBI has capped Franklin Templeton's voting rights to under 5% of total voting rights pending investigation outcomes, so a portion of their 6.28% holding was excluded from valid votes. The QIP proceeds are aimed at strengthening the bank's capital base, though the pricing, timing, and identity of investors are yet to be disclosed.
The bank now has shareholder clearance to raise fresh capital of up to Rs. 1,250 crores, which will boost its capital adequacy ratio and support business growth. Existing shareholders may face equity dilution once the actual QIP is launched, with the extent depending on the issue price and amount raised.