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Thursday, January 27, 2022

Equitas Holdings to divest stake in its arm ETPL

🔴 “Since ETPL is not engaged in financial services, the company is required to fully divest its investment in ETPL,” Equitas Holdings said in a regulatory filing. 

By: Express News Service |
January 9, 2022 4:20:37 am
Equitas Holdings Ltd, Equitas Technologies Pvt Ltd ETPL, Equitas Small Finance Bank ESFB, Reserve Bank of India, Business news, Indian express business news, Indian express, Indian express news, Current AffairsAccordingly, the board of directors in its meeting held on January 7, 2022, approved sale of its entire shareholding in the company’s subsidiary, ETPL. (Representational image)

Equitas Holdings Ltd will divest its entire stake in subsidiary Equitas Technologies Pvt Ltd (ETPL) as part of the requirements in accordance with Reserve Bank of India norms for its merger with Equitas Small Finance Bank (ESFB).

According to this scheme, all the assets held by Equitas Holdings, including its investments in ETPL, have to be transferred to and vested in ESFB. “Since ETPL is not engaged in financial services, the company is required to fully divest its investment in ETPL. Accordingly, the board of directors in its meeting held on January 7, 2022, approved sale of its entire shareholding in the company’s subsidiary, ETPL,” Equitas Holdings said in a regulatory filing.

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