Equitas Holdings, Equitas SFB rally on amalgamation scheme approval

Shares of Equitas Holdings (Rs 135.70) and Equitas Small Finance Bank (Rs 68.70) surged 9 per cent each on the BSE in the intra-day trade on Tuesday after their respective boards approved the amalgamation scheme of the two companies. The stock of Equitas Holdings (Rs 138.40) and Equitas SFB (Rs 76.75) had hit their respective 52-week highs on July 12, 2021.

As per the scheme, Equitas SFB will issue 226 shares to holding company’s shareholders for every 100 they held. The plan also involves "dissolution without winding-up" of Equitas Holdings after its merger with Equitas SFB. The merger, effective November