1729 Capital gets RBI nod to raise Suryoday stake

MUMBAI: RBI has granted approval to foreign portfolio investor 1729 Capital to hold a total stake of 7.14% in Suryoday Small Finance Bank. As of September 30, the FPI held a 3.81% stake in the bank. The bank said in an exchange filing that, while granting the approval, the RBI also clarified that prior consent will be required for any further increase in aggregate shareholding or voting rights. It added that if the aggregate shareholding falls below 5%, the investor will again need prior RBI approval to raise the holding to 5% or more.