Can you tell me about the proposed merger of Equitas and Equitas Small Finance Bank?
Answer
Answer
The boards of Equitas Holdings and Equitas Small Finance Bank (SFB) announced that Equitas Holdings will amalgamate into Equitas SFB. However, the transferor company will not be wound up. As per the scheme of amalgamation, shareholders of Equitas Holdings will be allotted 231 shares for every 100 shares of Equitas SFB. Post SEBI approval, other regulatory approvals could take another 6 months more. It will be long term positive.