Equitas Holdings to divest stake in its arm ETPL

Equitas Holdings Ltd will divest its whole stake in subsidiary Equitas Technologies Pvt Ltd (ETPL) as a part of the necessities in accordance with Reserve Bank of India norms for its merger with Equitas Small Finance Bank (ESFB).
According to this scheme, all of the property held by Equitas Holdings, together with its investments in ETPL, should 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 mentioned in a regulatory submitting.
With PTI