Equitas Small Finance Bank has received observation letters from the stock exchanges for the amalgamation of Equitas Holdings with the bank.
“With reference to our earlier intimations dated March 21, 2022 and May 6, 2022 on the Scheme of Amalgamation between Equitas Holdings Limited, Equitas Small Finance Bank Limited and their respective shareholders, we hereby inform that we have received the observation letters from the stock exchanges,” Equitas SFB said in a stock exchange filing on Friday.
Both BSE and NSE have given no objection to the proposed scheme. The observation letters of the stock exchanges, BSE and NSE, will be valid for six months from the date of the letter, within which the amalgamation scheme shall be submitted to the NCLT.