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Equitas to evaluate listing options for small finance bank unit

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Equitas to evaluate listing options for small finance bank unit

India's Equitas Holdings Ltd. is looking at a number of options for listing wholly owned unit Equitas Small Finance Bank Ltd. without going through the IPO route.

The company's board has formed a committee to evaluate options for the small finance bank, including a scheme of arrangement and reconstruction, according to a Nov. 2 BSE filing.

The central bank mandated Equitas Small Finance Bank to list by Sept. 4, 2019, three years from the date it started its operations.

Equitas plans to sell up to 60% of its stake in the unit to existing shareholders as part of the subsidiary's listing process.