Equitas SFB hits 52-week high, up 7% as RBI approves SBI MF stake buy plan

RBI gave approval to SBI Funds Management Limited (SBIFML) to acquire up to 9.99 per cent of the paid-up equity capital of the Bank through the schemes of SBI Mutual Fund (SBIMF).

Shares of Equitas Small Finance Bank (SFB) hit a 52-week high of Rs 63.90, as they rallied 7 per cent on the BSE in Wednesday’s intra-day trades after the Reserve Bank India (RBI) approved SBI Funds Management Limited (SBIFML) plan to acquire up to 9.99 per cent of the paid-up equity capital of the bank through the schemes of SBI Mutual Fund (SBIMF).

The stock surpassed its previous high of Rs 63.10, touched on December 13, 2022. At 09:49 AM; the stock traded 5 per cent higher at Rs 62.40, as compared to 0.36 per cent decline in the