2021-07-27 05:42:53
Equitas The board has approved merger with Equitas Small Finance Bank. The plan involves “dissolution without winding-up” of Equitas Holdings after its merger with ESFB.
The merger, effective November 1 if all approvals are received, is to comply with an RBI directive for promoter Equitas Holdings to reduce its stake in the small finance bank to below 40%. ESFB will issue 226 shares to the holding company’s shareholders for every 100 they held
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