Equitas Small Finance Bank announced that all ten resolutions presented at its Tenth Annual General Meeting (‘AGM’) were duly approved by its shareholders. The resolutions covered key business items including the appointment of joint statutory auditors, re-appointments of the Managing Director & CEO and an Independent Director, and approvals for significant capital raising and debt issuance. The voting results, based on remote e-voting and e-voting during the AGM, demonstrated strong shareholder support for the bank’s proposed actions.
Shareholder Approval Secured at Equitas SFB’s Tenth AGM
Equitas Small Finance Bank Limited has confirmed that all ten resolutions put forth at its Tenth Annual General Meeting (AGM), held on September 9, 2026, received the necessary shareholder approval. The resolutions, which included both ordinary and special business items, were passed with the required majority through remote e-voting and e-voting conducted during the meeting.
Key Resolutions Approved
Among the significant approvals were:
- The appointment of M/s. Sundaram & Srinivasan as one of the Joint Statutory Auditors.
- The re-appointment of Mr. Vasudevan P N as the Managing Director & Chief Executive Officer for a three-year term effective from July 23, 2026.
- The re-appointment of Ms. Geeta Dutta Goel as an Independent Director for a second consecutive three-year term commencing December 27, 2026.
- Approval for the issuance of redeemable unsecured non-convertible debentures/bonds up to ₹500 crore on a private placement basis to augment Tier-II capital.
- Approval to raise capital up to ₹1,250 crore through a Qualified Institutions Placement.
- Fixing remuneration for the Joint Statutory Auditors and for the Managing Director & Chief Executive Officer.
The e-voting period for remote e-voting ran from September 6, 2026, to September 8, 2026. The bank engaged M/s. Mohan Kumar & Associates as the Scrutinizer, with M/s. National Securities Depository Limited serving as the e-voting service provider.
Strong Shareholder Mandate
The detailed voting results indicate overwhelming support for each resolution, with a significant majority of votes cast in favour. For instance, the resolution to appoint joint statutory auditors saw 99.999% of votes in favour, while the approval for capital raising through QIP garnered 95.917% in favour. This strong mandate reflects shareholder confidence in the bank’s strategic direction and governance.
Source: BSE
