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Sebi turns down Equitas Holdings scheme for ESFB


Equitas Holdings was awaiting Sebi response to the scheme of arrangement it submitted.

Market regulator Securities and Exchange Board of India (Sebi) on Friday returned the scheme of arrangement mooted by Chennai-based Equitas Holdings with regard to Equitas Small Finance Bank, citing that draft scheme was not in compliance with the regulatory provisions.

In filing to stock exchanges, Equitas Holdings, promoter of ESFB, said it will initiate necessary steps to list its shares through Initial Public Offer (IPO)which is expected to be completed by March 2020 under normal circumstances.

Equitas Holdings was awaiting Sebi response to the scheme of ...


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