RBI permits Franklin Templeton Mutual Fund to acquire shares of Equitas Bank on merger

RBI has permitted Franklin Templeton Mutual Fund (FTMF) to acquire shares in Equitas Small Finance Bank Limited (ESFBL) accruing solely on account of amalgamation of Equitas Holdings Limited (EHL) with ESFBL and any fresh acquisition of shares or voting rights in ESFBL by FTMF would be subject to prior approval of RBI and with voting rights restricted to less than 5% of the total voting rights of ESFBL till further directions from RBI along with certain other conditions as stipulated by RBI vide the said letter.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 59.25 as compared to the previous close of Rs. 60.65. The total number of shares traded during the day was 330395 in over 2174 trades.

The stock hit an intraday high of Rs. 61.60 and intraday low of 58.75. The net turnover during the day was Rs. 19962695.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank INE063P01018 FranklinTempletonMF RBI Approval SharesAcquisition