Suryoday Small Finance Bank raises Rs 160 crore

TVS capital invests Rs 60 crore, two investors get RBI nod to hold more than 5 %

Suryoday Small Finance Bank Limited (SSFB) has raised Rs 160 crore in the last one week from existing and new investors, including TVS Capital. It plans to list the new bank in the next three years.

The fund raising will support company's investment plan in technology and increase its networks. Of this, fund raising of Rs 100 crore was through a rights issue.

R Baskar Babu, managing director and chief executive officer, SSFB, said existing investors including Sarva Capital, HDFC, IFC, IDFC Bank and others have participated in the fundraising.

The new investor which came on