M&A

M&A

Equitas Holdings to fully divest stake in subsidiary ETPL ahead of merger with Equitas SFB

PTI  

Equitas Holdings Ltd will divest its entire stake in subsidiary Equitas Technologies Pvt Ltd (ETPL) as part of the requirement for the merger with Equitas Small Finance Bank (ESFB). As part of the RBI's licensing conditions, being the promoter of ESFB, the boards of Equitas Holdings and ESFB had in July 2021 approved the scheme of amalgamation between them. According to this scheme, all the assets held by Equitas Holdings, including its investments in ETPL, have to be transferred to and vested in ESFB.