Equitas Small Finance Bank board meet on July 26 to consider Q1 results; check details

The lender said in a stock exchange filing that at the meeting, the board of directors of Equitas Small Finance Bank will consider a proposal to raise capital through the issuance of redeemable unsecured Non-Convertible Debentures (NCDs), bonds, or any other debt securities on a private placement basis.

Equitas Small Finance Bank informed the stock exchanges that the board would also consider convening a general meeting to seek the approval of the bank's shareholders regarding the aforesaid fundraising proposal.

The said fundraising will be subject to approval from the existing shareholders as well as the regulatory authorities.

In a separate filing, the bank also informed the bourses that investors will meet on July 26, and an earnings call will be held to discuss Q1FY25 results. PN Vasudevan, Managing Director and CEO of Equitas Small Finance Bank, will participate in the earnings call along with the management team.

On Monday, July 15, Equitas Small Finance Bank’s Board approved the appointment of Narayanan NR, KS Sampath, Ramkumar Krishnaswamy and Navin Puri as Independent Directors of the bank. The Board also appointed SR Srinivasan & Co. LLP, practising Company Secretaries, Chennai, as the Secretarial Auditor for the financial year 2024-2025, as per the recommendations of the Audit Committee.

Equitas Small Finance Bank’s shares closed 1.4% lower at ₹90.15 apiece on the NSE.