Key Board Approvals

1. Fundraising - Tier 1 Capital: The Board approved seeking enabling shareholder approval for raising funds (Tier-1 Capital) up to ₹300 Crore (Rupees Three Hundred Crore Only) through issue of Equity Shares, equity linked securities, warrants, and/or any other eligible securities. The fundraising may be conducted via Rights issue, Preferential Allotment, Private Placement, Qualified Institutions Placement (QIP), or any other permissible mode(s). The approval validity period is twelve (12) months from the date of shareholders' approval.

2. Fundraising - Tier 2 Capital: The Board approved seeking enabling shareholder approval for issue of debt instruments (Tier-2 Capital), including but not limited to Bonds, Non-Convertible Debentures or other Debt securities for an amount up to ₹200 Crore (Rupees Two Hundred Crore Only). The approval validity period is twelve (12) months from the date of shareholders' approval.

3. Record Date for Dividend: The Board fixed the Record Date as Friday, July 17, 2026, for determining entitlement of members eligible for the final dividend (as recommended by the Board and intimated to Exchanges on May 07, 2026). Dividend payment is subject to approval by shareholders at the ensuing 18th Annual General Meeting (AGM) and will be subject to deduction of tax at source. Dividend will be paid:

  • To beneficial owners of shares in electronic form as per data from NSDL and CDSL as of July 17, 2026
  • To members holding physical shares appearing in the Bank's Register of Members as of July 17, 2026

4. Director Re-appointment: The Board approved the re-appointment of Mr. Ranjit Jayant Shah (DIN: 00088405) as Non-Executive Non-Independent (Investor) Director. He is liable to retire by rotation at the ensuing AGM and has offered himself for re-appointment to hold office until November 01, 2026 (completion of his total term of 8 years as permissible under Banking Regulation Act, 1949).

5. ESOP Scheme Modification: The Board approved modifications in the Suryoday ESOP Scheme, 2019.

6. AGM Notice: The Board approved convening the 18th Annual General Meeting on Thursday, August 06, 2026 through video conferencing (VC) or other audio-visual (OAVM) means. The notice will be submitted to Stock Exchanges in due course.

Additional Information

  • Mr. Ranjit Jayant Shah is not related to any other Director(s) or Key Managerial Personnel of the Bank
  • He is not debarred from holding director office by any SEBI or regulatory authority order
  • The Board meeting commenced at 10:15 a.m. and concluded at 4:00 p.m.
  • This intimation will be available on the Bank's website at https://suryoday.bank.in/investor-corner/#disclosure-to-stock-exchanges

Director Profile (Annexure-A)

Mr. Ranjit Jayant Shah, aged 68 years, is an Investor Director and Co-founder and Managing Partner of Gaja Capital. He holds a Bachelor's Degree in Electrical Engineering from IIT Bombay and a Master's Degree in Business Administration from the University of Michigan. He has over four decades of experience including over two decades in private equity, with additional experience in telecom/technology sector, financial services, and management consulting.