NCLT sanctions amalgamation of Equitas Holdings and Equitas SFB

Amalgamation scheme shall be effective upon the filing of tribunal's order

The National Company Law Tribunal has sanctioned the scheme of amalgamation of Equitas Holdings Limited and Equitas Small Finance Bank, the small finance lender told exchanges on Tuesday.

The appointed date for the amalgamation is January 1, 2023 and the scheme shall be effective upon the filing of the NCLT’s order with registrar of companies, Chennai, the bank said.

“Post the reverse merger, 231 shares of Equitas Small Finance Bank are to be issued to the Shareholders holding 100 shares in Equitas Holdings Limited (all Rs 10 fully paid-up),” it said.

In July 2021, Equitas SFB had