Equitas Holdings Limited agreed to Spin-Off 74.59% stake in Equitas Small Finance Bank Limited (NSEI:EQUITASBNK) on July 26, 2021. As per the terms, Equitas Holdings Limited will get 226 shares for every 100 shares they held in Equitas holding. As of March 21, 2022, Equitas Holdings Limited shareholders will get 231 shares for every 100 shares they held in Equitas holding. Transaction is subject to shareholders approval, NCLT approval, regulatory approvals, and other closing conditions. As of May 6, 2022, RBI has approved the acquisition. As of January 12, 2023, NCLT has approved the scheme. As of January 19, 2023, the Board of Directors of the Bank has fixed February 03, 2023 as the ‘Record Date. The Audit committee, Independent directors committee, IIFL Securities Limited, and BDO India LLP recommended the offer is fair and reasonable. The scheme ensures there is no dilution of value to public shareholders in the process of amalgamation. T R Chadha & Co., IIFL Securities Limited (NSEI:IIFLSEC), BDO India LLP acted as advisors in the deal.

Equitas Holdings Limited completed the Spin-Off of 74.59% stake in Equitas Small Finance Bank Limited (NSEI:EQUITASBNK) on February 2, 2023.