 "Equitas Holdings gains after RBI issues Small Finance Bank licence")
Equitas Holdings has rallied 8% to Rs 192, its highest level since listing on April this year on the BSE, after the company announced that it has received final approval from the Reserve Bank of India (RBI) to launch a Small Finance Bank (SFB).
“The RBI has issued licence to Equitas Small Finance Bank Limited to carry on the Small Finance Bank (SFB) operations in India,” Equitas Holdings said in a BSE filing.
Post receipt of RBI licence and prior to commencement of SFB business, there are a few other approvals to be obtained from various departments of RBI and other agencies. On receipt of these approvals, Equitas Small Finance will commence its operations of Small Finance Bank, it added.
The stock zoomed 75% against its initial public offer (IPO) price of Rs 110 per share. The company had raise about Rs 2,200 crore through IPO.
At 10:34 AM, the stock was up 4.5% at Rs 186 on the BSE. A combined 3.03 million shares changed hands on the counter on the BSE and NSE so far.
“The RBI has issued licence to Equitas Small Finance Bank Limited to carry on the Small Finance Bank (SFB) operations in India,” Equitas Holdings said in a BSE filing.
Post receipt of RBI licence and prior to commencement of SFB business, there are a few other approvals to be obtained from various departments of RBI and other agencies. On receipt of these approvals, Equitas Small Finance will commence its operations of Small Finance Bank, it added.
The stock zoomed 75% against its initial public offer (IPO) price of Rs 110 per share. The company had raise about Rs 2,200 crore through IPO.
At 10:34 AM, the stock was up 4.5% at Rs 186 on the BSE. A combined 3.03 million shares changed hands on the counter on the BSE and NSE so far.
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