- Equitas Small Finance Bank will raise Rs 500 crore via 50,000 Non-Convertible Debentures
- Each debenture has a face value of Rs 1 lakh, totaling Rs 500 crore in issuance
- The bank reported a Q1 FY27 net profit of Rs 184 crore, reversing last year's loss
Equitas Small Finance Bank Ltd.'s board of directors has approved raising up to Rs 500 crore via the issuance of 50,000 Non-Convertible Debentures on a private basis, according to an exchange filing on Wednesday.
As part of the fundraise, up to 50,000 lower tier 2 NCDs will be issued, with a face value of Rs 1 lakh only. Therefore, the total amount will aggregate to Rs 500 crore.
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"The Board has approved the issuance of up to 50,000 (Fifty Thousand) Rated, Listed, Unsecured, Subordinated, Transferable, Redeemable, Fully Paid Up, Lower Tier II Non-Convertible Debentures having a face value of Rs.1,00,000/- (Rupees One Lakh only) each, of the aggregate nominal value of up to Rs.500,00,00,000," the filing stated.
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Equitas SFB Q1 FY27
Equitas Small Finance Bank Ltd. returned to profitability in the first quarter of FY27, reporting a net profit of Rs 184 crore compared with a net loss of Rs 224 crore in the corresponding period last year, aided by healthy core income growth and a sharp decline in provisioning.
Net interest income rose 30.9% year-on-year to Rs 1,029 crore from Rs 786 crore a year earlier, while operating profit increased to Rs 405 crore from Rs 315 crore, according to the company's quarterly earnings announcement.
According to the filing, asset quality improved sequentially, with gross non-performing assets declining to 2.36% at the end of the June quarter from 2.49% in the preceding quarter. Net NPA stood at 0.70%, compared with 0.68% in the March quarter. The bank said its credit cost fell sharply to 1.37% from 6.48% a year earlier, while the provision coverage ratio remained stable at 71.02%.
Equitas SFB Share Price
The shares traded over 1% higher at Rs 72.20 apiece on Wednesday, compared to a 0.48% advance in the Nifty index. The stock has risen 14.48% year-to-date and 28.52% in the last 12 months.
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