| Equitas Holdings announced that in order to comply with the RBI's licensing conditions applicable to the Company, being the
Promoter of Equitas Small Finance Bank (Bank), the Boards of the Company and the Bank in their respective Meetings held on 26 July 2021 had approved a Scheme of Amalgamation (Scheme). As per the Scheme, all the assets held by the Company, including its investments in
Equitas Technologies (ETPL) has to be transferred to and vested in the Bank.
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 07 January 2022, approved sale of its
entire shareholding in the Company's Subsidiary, ETPL. |