India, June 24 -- Equitas Small Finance Bank has approved a proposal to raise up to Rs 1,750 crore through a combination of debt and equity instruments to support its business growth plans.
According to the bank's regulatory filing, up to Rs 500 crore will be raised through the issuance of Non-Convertible Debentures (NCDs) or other eligible debt securities on a private placement basis.
Additionally, the bank plans to raise up to Rs 1,250 crore through a Qualified Institutions Placement (QIP) or any other permissible route, in one or more tranches.
The proposed fundraising is aimed at strengthening the bank's capital base and supporting future expansion initiatives.
Published by HT Digital Content Services with permission from Dion Globa...