RBI grants post facto approval to FPI “1729 Capital” for acquisition of 7.14% stake in Suryoday SFB

Reserve Bank of India (RBI) logo inside its
| Photo Credit:
FRANCIS MASCARENHAS

The Reserve Bank of India (RBI) has granted retrospective approval to 1729 Capital, a SEBI-registered foreign portfolio investor, along with its associates, for acquiring a 7.14% stake in Suryoday Small Finance Bank (SSFB).

Such retrospective approvals validate actions taken prior to regulatory clearance.

In a regulatory filing, 1729 Advisors LLP confirmed that the central bank has lifted prior restrictions limiting the investor group’s voting rights in SSFB to under 5%.

The approval remains contingent upon adherence to the Banking Regulation Act (1949), shareholding guidelines for banking institutions, foreign exchange regulations, and SEBI’s investment norms.

As of September-end 2025, promoters and promoter groups collectively held 22.44% of SSFB’s shares. Significant individual stakeholders included Managing Director & CEO Baskar Babu R (5.18%), Sunaina Pai Ocalan and Sheela Pai Cole (4.18% each), PS Jagdish (3.32%), and P Surendra Pai (2.28%).

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Published on November 25, 2025