Equitas Holdings stock hits 20% upper circuit after banking arm receives RBI nod to apply for Scheme of Amalgamation

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26 Aug, 2025 12:21

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Equitas Small Finance Bank share price jumped over 12 percent in the morning trade on July 12 after the bank received the Reserve Bank of India's permission to apply for a scheme of amalgamation.

Equitas Small Finance Bank on July 10 informed that it received the RBI's permission to apply for scheme of amalgamation, it said in a regulatory filing.

Apart from this, RBI has also conveyed that any 'no objection', if and when given on the Scheme of Amalgamation, would be without prejudice to its powers to initiate action if licensing guidelines are violated.

The stock was trading at Rs 73.40, up Rs 8.30, or 12.75 percent, at 1018 hours. It has touched a 52-week high of Rs 76.75. It has touched an intraday high of Rs 76.75 and an intraday low of Rs 69.05.

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On the other hand, share price of Equitas Holdings was trading at Rs 138.40, up Rs 23.05, or 19.98 percent. It has touched a 52-week high of Rs 138.40. It has touched an intraday high of Rs 138.40 and an intraday low of Rs 132.85. There were pending buy orders of 132,757 shares, with no sellers available.

Earlier on July 9, RBI vide its communication to the Equitas Small Finance Bank Limited (ESFBL) has permitted it to apply for Scheme of Amalgamation.

Meanwhile, the initial promoter lock-in for the company, Equitas, expires on September 4, 2021. Citing this, ESFBL had requested RBI if a scheme of amalgamation of Equitas with the ESFBL can be submitted to the central bank for approval, prior to the expiry of the said five years, to take effect after the initial promoter lock-in expires.

Following the approval, Equitas mentioned that they would be initiating steps to finalise the scheme of amalgamation, submit to the boards and the ESFBL for approval.