India: Ujjivan SFB initiates steps to merge with holding company

Ujjivan has recently sold about 12.6 million shares to 17 domestic institutional investors at Rs210 per share. Photo: Hemant Mishra/Mint

Ujjivan Small Finance Bank (SFB) on Saturday said it would initiate steps for the amalgamation of the holding company Ujjivan Financial Services Ltd with the bank.

The decision to merge the holding company with itself comes after the Reserve Bank of India (RBI) allowed small finance banks to apply for amalgamation on completion of five years from the date of commencement of business.

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