“It is hereby informed that the board of directors of AU Small Finance Bank Limited, at its meeting held today on October 29, 2023 has inter alia, considered and approved the scheme of amalgamation for the amalgamation of Fincare Small Finance Bank Limited into and with AU Small Finance Bank Limited,” the exchange notice read.
As part of the merger, shareholders of Fincare Small Finance Bank shall receive 579 equity shares of AU Small Finance Bank for every 2,000 shares held.
The transaction is subject to approval from Reserve Bank of India and Competition Commission of India.
This is a developing story.
