RBI gives go-ahead to Equitas reverse merger plan with certain riders

Asks Equitas Holdings to divest shareholding in its subsidiary, Equitas Technologies, prior to the scheme taking effect

The Reserve Bank of India (RBI) on Friday approved the amalgamation scheme between Equitas Holdings Limited and Equitas Small Finance Bank, subject to certain conditions.

“We would like to inform that RBI vide its letter dated May 6, 2022 has conveyed its ‘no-objection' to our proposal for voluntary amalgamation of Equitas Holdings Limited with Equitas Small Finance Bank Limited subject to conditions”, the company informed the exchanges.

The RBI has asked Equitas Holdings Limited to divest its shareholding in its subsidiary, Equitas Technologies Limited, prior to the scheme taking effect. It has also specified that Equitas Small Finance Bank has