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, unsecured, subordinated, transferable, redeemable and fully paid-up. They will be issued in a single series through a private placement.

The instruments will qualify as Lower Tier II capital under the Basel II capital adequacy framework. The bank may raise the overall approved amount of Rs 400 crore in one or more tranches.

The first tranche will have a size of up to Rs 200 crore and will be issued in dematerialised form. The debentures are proposed to be listed on BSE Limited.

Tenure Up To 10 Years

The board has approved a tenure not exceeding 10 years from the deemed date of allotment. The coupon rate, interest payment schedule, principal repayment terms and other commercial conditions will be determined in accordance with the board’s approval.

As the proposed NCDs are unsecured, no charge will be created over the bank’s assets. The instruments will also carry no special rights, interests or privileges.

The bank did not disclose the proposed allotment date, maturity date or coupon rate in the filing.

Interim Company Secretary Named

Separately, the board approved the appointment of Geeta Krishnan as interim company secretary and compliance officer. She will also be designated as a key managerial personnel from September 24, 2026.

Krishnan has more than 25 years of experience in corporate governance, legal, secretarial and regulatory compliance across banking and listed companies.

Her expertise includes fundraising, initial public offerings, listings and foreign exchange regulations. She previously served as Suryoday Small Finance Bank’s company secretary between 2017 and 2022 and currently works as a corporate consultant.

Disclaimer: This article is based on Suryoday Small Finance Bank’s exchange filing and is intended solely for general informational purposes only.