Key Approval Details

The Bank received a SEBI letter dated October 19, 2026 conveying approval for issuance of up to 10,00,00,000 (Ten Crore) fresh equity shares directly to eligible employees of the bank under an Employee Stock Purchase Scheme (ESPS).

Regulatory Framework

The ESPS issuance is being implemented under the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. This approval specifically references SEBI circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 03, 2023, under Sr. No. 10 of para 3, as a permissible method for achieving compliance with Minimum Public Shareholding (MPS) requirements under Rule 19A of the Securities Contracts Regulation (Rules), 1957.

Conditions and Requirements

The issuance is subject to compliance with the provisions of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and other applicable regulatory requirements. SEBI has specified that this approval is specific to the present case and shall not be treated as a precedent.

Correspondence History

The approval follows the Bank's initial request letter dated August 11, 2026 and subsequent correspondences on the matter.

Disclosure Requirements

SEBI has directed the Bank to intimate the contents of this approval letter to the Stock Exchanges in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Signatories and Contacts

Bank Representatives:

  • Vishal Bhatnagar, Deputy Company Secretary (Membership No: A72629), Assistant General Manager, Corporation Finance Department
  • Raghuram Mallela, Deputy General Manager & Company Secretary, Investor Relations Cell

SEBI Representative:

  • Prashant Choudhary, Division of Issues and Listing – 2 (Email: prashantc@sebi.gov.in, Phone: 022-26449210)

Document Verification

The SEBI letter includes authentication instructions noting that the document may be verified on SEBI's webpage accessible through QR code or from the link: https://www.sebi.gov.in/sebiweb/dnvs-authentication-v2.html

Financial Impact: The disclosure does not quantify the specific financial impact of the share issuance.