Home / Business and Economy / Suryoday SFB Raises ₹200 Crore via Debentures
Suryoday SFB Raises ₹200 Crore via Debentures
21 Sep
Summary
- Suryoday Small Finance Bank approved raising ₹200 crore via debentures.
- The funds will be raised through Lower Tier II non-convertible debentures.
- The debentures will be listed on the BSE with a tenure up to 10 years.
Suryoday Small Finance Bank has announced a significant capital-raising initiative, with its board approving the issuance of up to ₹200 crore through Lower Tier II non-convertible debentures. This private placement aims to strengthen the bank's financial position.
The approved debentures are described as rated, listed, unsecured, subordinated, transferable, redeemable, and fully paid-up. They are designed to comply with the Basel II framework for capital adequacy. These securities are slated for listing on the BSE and will carry a tenure of up to 10 years from their allotment date.
This strategic issuance, part of a larger potential ₹400 crore raise, underscores the bank's commitment to growth and regulatory compliance. The debentures will be issued in dematerialised form, with coupon and payment terms to be finalized by the Board. Importantly, the issuance will not involve any charges on the bank's assets.
