Equitas Small Finance Bank Approves Capital Raising Plans and Announces Key Leadership Appointments

Equitas Small Finance Bank Approves Capital Raising Plans and Announces Key Leadership Appointments​

The Board of Directors of Equitas Small Finance Bank Limited has approved significant enabling resolutions related to future capital raising, alongside several critical appointments and management transitions within the organization. These decisions were made during a Board meeting held on June 24, 2026.

Capital Raising Initiatives​

The Bank's Board authorized proposals that allow the institution to raise substantial capital through two primary methods upon approval by its members at the upcoming Tenth Annual General Meeting (AGM).

The proposed capital raising includes:

• Non-Convertible Debt Securities: Issuing Rated, Listed, Unsecured, Subordinated, Redeemable, Non-Convertible Debentures or Bonds on a private placement basis for an aggregate amount not exceeding Rs. 500 Crores.
• Qualified Institutions Placement (QIP): Raising capital through the issuance of equity shares and/or other eligible securities convertible into equity shares or warrants, up to an aggregate amount of Rs. 1,250 Crores via QIP or other permissible modes in one or more tranches.

The Tenth AGM, where member approval for these resolutions will be sought, is scheduled for September 09, 2026, at 11:00 A.M., and will be conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM).

Re-appointment of Senior Management​

The Board formally approved the re-appointment of Mr. Vasudevan P N as the Managing Director & Chief Executive Officer (MD&CEO) of the Bank for a term of three years. His appointment is effective from July 23, 2026, until July 22, 2029, and he remains liable to retire by rotation.

Furthermore, Mrs. Geeta Dutta Goel was re-appointed as an Independent Director for a second term, with effect from December 27, 2026, until December 26, 2029. This appointment is not subject to retirement by rotation and is subject to the approval of the Bank’s members at the AGM.

Changes in Financial and Risk Management​

The bank is undergoing transitions in its finance and risk leadership roles. Mr. N Sridharan, who served as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), will retire from his service upon superannuation effective June 30, 2026.

In response to this transition, the Board approved the appointment of Mr. Mukund Shyamrao Barsagade as the CFO and KMP, effective July 01, 2026.

Regarding risk management, the term of appointment for Chief Risk Officer (CRO), Mr. Sibi P.M., concludes on June 30, 2026. The Board subsequently approved the appointment of Mr. Taraka Ramana Prathipati, currently the Head of Credit Risk at the Bank, as the Interim Chief Risk Officer for a period of six months, effective July 01, 2026.

Governance and Key Managerial Personnel​

The Board of Directors established guidelines for determining the materiality of events or information. Any two of the following designated Key Managerial Personnel (KMP) are authorized to determine materiality and disclose such information to Stock Exchanges:


The Board also reviewed the profiles of the newly appointed and re-appointed personnel, including Mrs. Geeta Dutta Goel and Mr. Taraka Ramana Prathipati.

EQUITASBNK Stock Price Movement​

Shares of Equitas Small Finance Bank Limited are rallying higher to ₹77.92 as of 12:57 PM today, gaining 1.09% in live trading. The equity trades strongly, with a volume of 3.15 million shares and holding well above its day low of ₹76.40.