RBI clears Franklin Templeton MF's acquisition of stake in Equitas Small Finance

RBI clears Franklin Templeton MF's acquisition of stake in Equitas Small Finance

RBI had already granted approval to DSP Investment Managers to acquire as much as 9.99 per cent stake in Equitas Small Finance Bank in November.

FPJ Web DeskUpdated: Friday, December 16, 2022, 10:13 PM IST
article-image
File: Representative

As per an exchange filing, Banking regulator the Reserve Bank of India has cleared Franklin Templeton Mutual Fund's acquisition of a stake in Equitas Small Finance Bank Ltd. The investment by Franklin Templeton is subject to the amalgamation of Equitas Holdings Ltd with the small finance bank.

The bank's parent firm Equitas Holdings will be merged with the small finance bank. RBI had already granted approval to DSP Investment Managers to acquire as much as 9.99 per cent stake in Equitas Small Finance Bank in November.

But Franklin will only have 5 per cent voting rights at Equitas Small Finance Bank, until RBI issues further directions in addition to other conditions.

RECENT STORIES

India Is Capable Of Absorbing Global Shocks, Stands Firm Despite Volatility: FM Nirmala Sitharaman

India Is Capable Of Absorbing Global Shocks, Stands Firm Despite Volatility: FM Nirmala Sitharaman

Gold Prices Fall ₹643, Retreating From Record High To ₹1,16,945 Per 10 Grams, Profits Booked...

Gold Prices Fall ₹643, Retreating From Record High To ₹1,16,945 Per 10 Grams, Profits Booked...

Big Change In Aadhaar Update Fees, Home Service Now ₹700, Name–Photo Change Also Costlier

Big Change In Aadhaar Update Fees, Home Service Now ₹700, Name–Photo Change Also Costlier

IPO: Pharmaceutical Company Rubicon Research Set To Raise ₹1,377.50 Crore, Will Open For...

IPO: Pharmaceutical Company Rubicon Research Set To Raise ₹1,377.50 Crore, Will Open For...

IPO Alert: WeWork India Launches ₹3,000 Cr Offer, Anchor Investors Pump In ₹1,348 Cr

IPO Alert: WeWork India Launches ₹3,000 Cr Offer, Anchor Investors Pump In ₹1,348 Cr