Equitas SFB slips 13% as new shares list post merger with Equitas Holdings

Total 789.53 million shares have been listed pursuant to the scheme of amalgamation of Equitas Holdings with Equitas Small Finance Bank

Shares of Equitas Small Finance Bank (SFB) slipped 13 per cent to Rs 63.81 on the BSE in Friday’s intra-day trade following the listing of its new 789.53 million shares pursuant to the amalgamation of Equitas Holdings with the bank. In the past two trading days, the stock has dipped 15 per cent. It had hit a 52-week high of Rs 77.87 on Monday, March 6, 2023.

“933.94 million shares of Equitas SFB have been cancelled on account of cross holding, which were held by Equitas Holdings in Equitas SFB,” BSE said in notice dated March 9, 2023.