Suryoday Small Finance Bank Clears ₹400 Crore NCD Plan, Board Approves ₹200 Crore First Tranche
Mumbai: Suryoday Small Finance Bank’s board has approved raising up to Rs 400 crore through non-convertible debentures (NCDs), as the lender looks to strengthen its capital base. The board has also granted specific approval for issuing up to Rs 200 crore under the first tranche, according to the bank’s regulatory filing on Monday. Private Placement Route The proposed NCDs will be rated, listed,…
Mumbai: Suryoday Small Finance Bank's board has greenlit the issuance of up to Rs 400 crore in non-convertible debentures (NCDs) to bolster the bank's capital. The board approved a first tranche of up to Rs 200 crore, according to the bank's regulatory filing. The proposed NCDs will be rated, listed, unsecured, subordinated, transferable, redeemable and fully paid-up.
They'll be issued in one series through a private placement and might be raised in multiple tranches. The first tranche will be issued in dematerialised form and listed on BSE Limited. The debentures will have a maximum tenure of 10 years, with the coupon rate, interest payment schedule, and principal repayment terms to be determined by the board.
The bank did not release details on the allotment date, maturity date, or coupon rate. Geeta Krishnan has been appointed as interim company secretary and compliance officer for a period of 10 years. Krishnan brings over 25 years of experience in corporate governance, legal, secretarial, and regulatory compliance.
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