Equitas Holdings shares surged as much as 7.85 per cent on Friday after it informed bourses that the Reserve Bank of India has issued small finance bank license to Equitas Small Finance Bank on June 30.

At 10.34 am, shares of Equitas Holdings werer trading 4.45 per cent up at Rs 185.45. The scrip opened at Rs 182.80 and has touched a high and low of Rs 191.50 and Rs 182.80, respectively, in trade so far. Later, the scrip settled 3.60 per cent up at Rs 183.95.

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In a BSE filing, Equitas Holdings said, ” Post receipt of RBI license and prior to commencement of SFB business, there are few other approvals to be obtained from various departments of RBI and other agencies. On receipt of these approvals, Equitas Small Finance Bank Ltd will commence its operations of small finance bank.”

For the quarter ended March 31, 2016, the company reported net profit of Rs 0.31 crore against net loss of Rs 0.17 crore in the corresponding quarter a year ago.

Since listing, shares of Equitas Holdings surged 31.28 per cent to Rs 177.55 on June 30 from Rs 132.25 on April 21 this year. Sensex gained 4.33 per cent during the same period.