Jaipur-headquartered AU Small Finance Bank (SFB) on late Sunday announced it will acquire Rajeev Yadav-founded Fincare Small Finance Bank, subject to regulatory approvals from the Reserve Bank of India, Competition Competition of India and shareholders of the two companies, according to exchange filing by AU SFB.
As per the agreement, shareholders of Fincare Small Finance Bank shall receive 579 equity shares of AU Small Finance Bank for every 2,000 shares held. Further, the ‘Appointed Date’ of the merger shall be February 1, the notice said.
