HDFC AMC gets RBI approval for acquiring up to 9.5% stake in Equitas Small Finance Bank Ltd

Equitas Small Finance Bank Limited has received an intimation from RBI on September 20, 2023, regarding the approval granted to M/s. HDFC Asset Management Company Limited ("HDFC") to acquire "aggregate holding" of up to 9.5% of the paid-up equity capital or voting rights in ESFBL.

The aforesaid approval by RBI is subject to compliance with the relevant provisions of Banking Regulation Act, 1949, Master Direction and Guidelines on Acquisition and Holding of shares or Voting Rights in Banking companies dated January 16,2023 (as amended from time to time), provisions of the Foreign Exchange Management Act,1999, regulations issued by Securities and Exchange Board of India and any other statutes, regulations and guidelines as applicable and is valid for a period of one year from the date of the approval.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 83.92 as compared to the previous close of Rs. 84.63. The total number of shares traded during the day was 124680 in over 1077 trades.

The stock hit an intraday high of Rs. 84.98 and intraday low of 83.51. The net turnover during the day was Rs. 10478860.00.

Shares of HDFC Asset Management Company Limited was last trading in BSE at Rs. 2684.40 as compared to the previous close of Rs. 2651.60. The total number of shares traded during the day was 37770 in over 4467 trades.

The stock hit an intraday high of Rs. 2720.40 and intraday low of 2625.85. The net turnover during the day was Rs. 101800956.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank INE063P01018 RBI Intimation HDFCAssetManagementCompany INE127D01025 HDFCAMC StakeAcquisition