Equitas Small Finance Bank jumps after SBIFML gets RBI`s nod to acquire up to 9.99% stake in Bank
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Equitas Small Finance Bank is currently trading at Rs. 60.35, up by 0.85 points or 1.43% from its previous closing of Rs. 59.50 on the BSE.
The scrip opened at Rs. 61.70 and has touched a high and low of Rs. 63.90 and Rs. 59.80 respectively. So far 1090794 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 63.90 on 04-Jan-2023 and a 52 week low of Rs. 37.50 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 63.90 and Rs. 55.65 respectively. The current market cap of the company is Rs. 7588.55 crore.
The promoters holding in the company stood at 74.50%, while Institutions and Non-Institutions held 19.62% and 5.88% respectively.
Reserve Bank of India (RBI) has granted its approval to SBI Funds Management (SBIFML) to acquire up to 9.99% of the paid-up equity capital of Equitas Small Finance Bank through the schemes of SBI Mutual Fund (SBIMF).
The aforesaid approval by RBI is subject to compliance with the relevant provisions of Banking Regulation Act,1949, Master Direction on Prior Approval for Acquisition of shares or voting rights in Private Sector Banks dated November 19, 2015 and Master Direction on Ownership in Private sector Banks dated May 12, 2016, issued by RBI, provisions of the regulations issued by Securities and Exchange Board of India, provisions of the Foreign Exchange Management Act, 1999 and any other guidelines, regulations and statutes as applicable and is valid for a period of one year i.e. up to January 02, 2024.
Equitas Small Finance Bank offers personalised services and helps finds the right product to suit individual banking requirements for their savings.
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