Board of ESAF Small Finance Bank approves raising Tier 1 capital
The board of ESAF Small Finance Bank at its meeting held on 20 September 2025 has approved the following:
1. Raising of Tier I capital by way of issuance of equity shares through such method as may be considered appropriate, including rights issue, preferential issue, private placement, qualified institutional placement, or any other method permitted under applicable laws, or a combination thereof in one or more tranches, subject to the approval of shareholders.
2. Approval for amendment of Clause V (Capital Clause) of the Memorandum of Association of the Bank for enabling increase of the Authorised Capital of the Bank from Rs. 600 crore to Rs. 1000 crore, subject to the prior approval from the Reserve Bank of India and approval of the shareholders of the Bank.
3. The Board of Directors of the Bank has duly noted the relieving of Shri. George Thomas, Executive Vice President - Human Resource of the Bank, from his responsibilities with effect from closure of business hours on 30 September 2025, prior to the completion of his contractual tenure due to personal preoccupation and in accordance with the Bank's internal governance process, suitable arrangements have been made within the organisation in relation to the said position.
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