INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Equitas Holdings and Ujjivan Financial Services dropped to 52-week lows on the BSE on Friday after the RBI issued
directives to them on compliance of rules for listing their small finance banks
The Reserve Bank has asked both companies to comply with guidelines and list their small finance banks within three years of commencing
operations, Ujjivan and Equitas said in separate BSE filings on Thursday.
Equitas said the company would be considering steps to get Equitas
Small Finance Bank (ESFBL) listed within the stipulated timeframe at its board meeting in November first week
It further said it will consider approaching RBI for an approval to merge with the bank at an appropriate time, post the lock-in
period.
Ujjivan in the regulatory filing too expressed its commitment to consider all appropriate measures to ensure timely compliance of
the RBI directives.
Shares of Equitas were at Rs 88.70, down 31.35 per cent, on the BSE around 12.40 pm today
Ujjivan stock fell to Rs 173.05, down 21.31 per cent
The benchmark Sensex lost 0.19 per cent at 33,625
