Centrum Capital share price rises 19% on getting banking licence
The share touched a 52-week high of Rs 58.50 on June 21, 2021 and a 52-week low of Rs 15.15 on December 14, 2020
October 13, 2021 / 12:32 PM IST
Centrum Capital share price rose 19 percent intraday on October 13, a day after it got a small finance bank licence from the Reserve Bank of India (RBI).
"The Reserve Bank of India (RBI) has issued a Small Finance Bank (SFB) licence to the consortium of Centrum Financial Services (Centrum) and Resilient Innovations Private Limited (BharatPe)," Centrum Capital said in a release.
The new SFB has been incorporated as “Unity Small Finance Bank”, it said.
It is the first time that two partners are uniting to build a bank. The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience.
Centrum’s successful MSME and Micro Finance businesses shall be merged into Unity Small Finance Bank, it said.
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“We are delighted to receive the license and excited to partner with BharatPe to create this new age bank, with a strong team. We aspire to be India’s first Digital Bank,” Centrum Group Executive Chairman Jaspal Bindra said.
At 1218 hours, Centrum Capital was quoting at Rs 46.15, up Rs 6.20, or 15.52 percent on the BSE.
The share touched a 52-week high of Rs 58.50 on June 21, 2021 and a 52-week low of Rs 15.15 on December 14, 2020.
It is trading 21.11 percent below its 52-week high and 204.62 percent above its 52-week low.