AU Small Finance Bank gains on getting CCI`s nod to amalgamate Fincare Small Finance Bank with itself
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AU Small Finance Bank is currently trading at Rs. 731.40, up by 15.45 points or 2.16% from its previous closing of Rs. 715.95 on the BSE.
The scrip opened at Rs. 717.00 and has touched a high and low of Rs. 736.40 and Rs. 709.75 respectively. So far 16628 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 813.00 on 08-Jan-2024 and a 52 week low of Rs. 548.15 on 24-Mar-2023.
Last one week high and low of the scrip stood at Rs. 760.00 and Rs. 709.05 respectively. The current market cap of the company is Rs. 48616.56 crore.
The promoters holding in the company stood at 25.46%, while Institutions and Non-Institutions held 61.93% and 12.61% respectively.
AU Small Finance Bank has received an approval from Competition Commission of India (CCI) in relation to the proposed scheme of Amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank (Scheme/Combination). The CCI in its meeting held on January 23, 2024, considered and approved the proposed Combination.
The Scheme remains subject to receipt of the approval of Reserve Bank of India. Earlier, the shareholders of AU Small Finance Bank had approved the Scheme of Amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
