Equitas Small Finance Bank has issued an intimation to its physical security holders regarding the process of dematerializing their equity shares. Following the amalgamation of Equitas Holdings Limited and Equitas Small Finance Bank Limited, a significant number of shares were transferred to a suspense demat account. The bank is reminding shareholders to claim their shares as per the applicable process to ensure they are properly recorded and accessible.
Intimation to Physical Shareholders
Equitas Small Finance Bank Limited has released an important notice for its physical security holders. This communication refers to earlier announcements and aims to bring attention to the process of dematerializing equity shares following the approved Scheme of Amalgamation. This scheme involved Equitas Holdings Limited (EHL), Equitas Small Finance Bank Limited, and their respective shareholders.
Share Allotment and Dematerialization Process
The bank previously intimated about the allotment of approximately 78.95 crore fully paid equity shares of Rs.10/- each. These shares were allocated in demat mode to eligible equity shareholders of EHL as of the record date. A specific portion, amounting to 2,10,902 fully paid-up equity shares, was transferred to a suspense demat account. This account holds shares on behalf of physical shareholders of EHL as of the record date.
Corporate Governance and Shareholder Action
In line with corporate governance practices and adherence to the SEBI Master Circular, the bank has disseminated the necessary requirements on its website. Shareholders holding physical shares are being proactively informed (where registered addresses are available) to facilitate the dematerialization of their equity shares. The bank urges these shareholders to follow the applicable process to claim and manage their shares effectively.
Source: BSE
