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Shivalik Small Finance Bank Raises Rs 100 Crore in SMBC-Led Equity Round

The fresh infusion aims to lift its capital adequacy ratio from 19 to 24 percent to underpin planned 35–40 percent growth this fiscal.

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Overview

  • SMBC Asia Rising Fund invested about $7 million for a 4.99 percent stake, valuing Shivalik at roughly Rs 1,200 crore.
  • Existing investors Accel, Quona Capital, Lightspeed and Sorin Investments contributed around Rs 40 crore on a pro rata basis.
  • The bank plans to deploy the capital to enhance its technology infrastructure, bolster its product and engineering teams and expand its banking-as-a-service offerings.
  • As of FY2024, Shivalik served over 900,000 customers through 79 branches and 114 business correspondent outlets across 11 states, with a portfolio exceeding Rs 6,000 crore and annual revenue of Rs 423 crore.
  • SMBC has marked this as its sixth investment in India to foster collaboration on co-created products, and Shivalik is considering small acquisitions in affordable housing finance or secured MSME lending.