Results of e-voting (i.e., Remote e-voting) on the Resolutions put to vote through electronic means vide the Postal Ballot Notice dated January 22, 2026, along with the Scrutinizer s Report
SURYODAY · price
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Suryoday Small Finance Bank announced results of its postal ballot (remote e-voting held from January 30 to February 28, 2026). Two special resolutions were put to vote among 99,866 shareholders. The resolution to raise up to ₹1,000 crore through equity shares, QIP, preferential allotment, rights issue, or private placement FAILED, receiving only 60.51% votes in favour against the 75% threshold needed. Notably, public institutions voted 92.80% against the fund-raising plan, while promoters voted 100% in favour. The resolution to re-appoint Mr. Krishna Prasad Nair as Non-Executive Independent Director for a further 3-year term PASSED with an overwhelming 99.68% support across all shareholder categories.
The rejection of the ₹1,000 crore capital raising proposal is a significant setback for the bank's growth and capital plans, as it may delay fundraising or force the management to rework the terms or structure. The strong dissent from public institutions signals concerns about potential dilution or pricing. Shares could see short-term pressure. The easy passage of the director re-appointment has no material impact on the stock.