Equitas Holdings proposes new scheme to list Equitas Small Finance Bank
Updated : September 09, 2019 08:48 AM IST
EHL has proposed to capitalise free reserves of Equitas Small Finance Bank (ESFB) and issue shares of the subsidiary to its shareholders without cash consideration.
Under the RBI's regulatory requirements, ESFB was to be listed on capital markets on or before September 4, 2019 and have a net worth of Rs 500 crore.
RBI had turned down ESFB's request for extension of timeline for listing of shares of the banking entity.
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