Equitas, ESFB shares jump 10per cent after amalgamation nod

Shares of Equitas Holdings Ltd (EHL) and Equitas Small Finance Bank (ESFB) on Tuesday jumped up to 10 per cent as the board of directors and shareholders of the two companies approved their amalgamation scheme. Equitas Holdings rallied 9.92 per cent to Rs 136.80 on BSE. The stock of Equitas Small Finance Bank also gained 8.78 per cent to Rs 68.70. The board of directors and shareholders of EHL and ESFB on Monday approved the amalgamation scheme of the two companies. The share exchange ratio would result into each shareholder of the transferor company, EHL, getting 226 equity shares of the transferee company, ESFB, for every 100 shares held by them in the holding company. EHL (transferer company) is the promoter or the holding company of ESFB (transferee company).