Shares of Equitas Small Finance Bank zoomed after the company said that the Reserve Bank of India (RBI) has approved DSP Investment Managers Private Ltd (DSPIM) bid to acquire up to a 9.99 percent stake in the lender.
“The Bank has received an intimation from RBI on November 16, 2022, that it has granted its approval to M/s DSP Investment Managers Private Ltd (DSPIM) to acquire up to 9.99 percent of the paid-up equity capital of the Bank through the schemes of DSP Mutual Fund (DSPMF),” it said in an exchange filing.
The proposed acquisition of shares by DSPIM would be consequent to its merger with Equitas Holdings Limited.
Reacting to the news, shares of the lender zoomed in as much as 12.64 percent to Rs 57 on the BSE. At the time of writing this news, the scrip was trading six percent higher at Rs 53.85.