Mumbai: Equitas Holding Ltd, the promoter of Equitas Small Finance Bank, on Saturday said the Reserve Bank of India has allowed it to file for a scheme of amalgamation of the promoter entity with the bank. Currently, both Equitas Holding Ltd and Equitas Small Finance Bank are listed on the stock exchanges. Equitas Holdings holds an 82% stake in the bank. "In case of Equitas Small Finance Bank Limited (“the Bank"), our subsidiary for which the Company is the promoter, the said Initial Promoter Lock-in for the Company expires on September 4, 2021. According to the filing, RBI vide its communication dated 9 July to the bank has permitted it to apply to the central bank seeking approval for scheme of amalgamation.

Source: Mint July 10, 2021 10:41 UTC