Equitas Small Finance Bank Ltd receives RBI nod for investment by DSP Investment Managers

Equitas Small Finance Bank Limited has received an intimation from RBI on November 16, 2022, that it has granted its approval to M/s DSP Investment Managers Private Ltd (DSPIM) to acquire up to 9.99% of the paid-up equity capital of the Bank through the schemes of DSP Mutual Fund (DSPMF).

The proposed acquisition of shares by DSPIM would be consequent to the Scheme of Amalgamation of Equitas Holdings Limited ("Holding Company") with the Bank taking effect.

The aforesaid approval by RBI is subject to compliance with the relevant provisions of Banking Regulation Act,1949, Master Direction on Prior Approval for Acquisition of shares or voting rights in Private Sector Banks dated November 19,2015 and Master Direction on Ownership in Private sector Banks dated May 12,2016, issued by RBI, provisions of the regulations issued by Securities and Exchange Board of India, provisions of the Foreign Exchange Management Act,1999 and any other guidelines, regulations and statutes as applicable and is valid for a period of one year i.e. up to November 15, 2023.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 50.60 as compared to the previous close of Rs. 51.95. The total number of shares traded during the day was 241350 in over 1857 trades.

The stock hit an intraday high of Rs. 52.50 and intraday low of 49.95. The net turnover during the day was Rs. 12364042.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank INE063P01018 DSPInvestmentManagers StakeAcquisition