Board of Equitas Holdings approves sale of entire stake held in Equitas Technologies

8 Jan 2022 , 12:40 PM

Equitas Holdings announced that in order to comply with the RBIs licensing conditions applicable to the Company, being the Promoter of Equitas Small Finance Bank (Bank), the Boards of the Company and the Bank in their respective Meetings held on 26 July 2021 had approved a Scheme of Amalgamation (Scheme). As per the Scheme, all the assets held by the Company, including its investments in Equitas Technologies (ETPL) has to be transferred to and vested in the Bank.

Since ETPL is not engaged in financial services, the Company is required to fully divest its investment in ETPL. Accordingly, the Board of Directors in its Meeting held on 07 January 2022, approved sale of its entire shareholding in the Companys Subsidiary, ETPL.

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