Bank of STV is contemplating to infuse the capital to meet the requirement of the BASEL Norms. In this context, bank is proposing to issue additional equity shares of ₹10,000 crore having a face value of ₹10 each via Qua

Qualified Institution Placement as per the relevant provisions of the Chapter VI of SEBI (ICDR) Regulations, 2018: Conditions for qualified institutions placement (QIP) under Regulation 172: A listed issuer may make a qualified institutions placement of eligible securities if it satisfies the following conditions: A special resolution approving the qualified institutions placement has been passed by its shareholders, and the special resolution shall, among other relevant matters, specify that the allotment is proposed to be made through qualified institutions placement and the relevant date referred to in Regulation 171(b)(ii); It has been provided that no shareholders' resolution will be required in case the qualified institutions placement is through an offer for sale by promoters or promoter group for compliance with minimum public shareholding requirements specified in the Securities Contracts (Regulation) Rules, 1957; It has been further provided that allotment pursuant to the special resolution referred above shall be completed within a period of 365 days from the date of passing of the resolution. the equity shares of the same class, which are proposed to be allotted through qualified institutions placement or pursuant to conversion or exchange of eligible securities offered through qualified institutions placement, have been listed on a stock exchange for a period of at least one year prior to the date of issuance of notice to its shareholders for convening the meeting to pass the special resolution. It has been Provided that where an issuer, being a transferee company in a scheme of compromise, arrangement and amalgamation duly sanctioned, the period for which the equity shares of the same class of the transferor company were listed on a stock exchange having nation-wide trading terminals shall also be considered for the purpose of computation of the period of one year. This shall not be applicable to an issuer proposing to undertake qualified institutional placement for complying with the minimum public shareholding requirements specified in the Securities Contracts (Regulation) 1957. An issuer shall be eligible to make a qualified institutions placement if any of its promoters or directors is not a fugitive economic offender.