The share exchange ratio for the amalgamation of the Transferor Company into and with the Transferee Company shall be 579 (Five Hundred Seventy Nine) equity shares of face value of Rs10/- each of the Transferee Company for every 2,000 (Two Thousand) equity shares of face value of Rs10/- each of the Transferor Company
FinTech BizNews Service
Mumbai, 29 October, 2023: 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
(“Scheme”) for the amalgamation of Fincare Small Finance Bank Limited (“Transferor Company”) into and
with AU Small Finance Bank Limited (“Transferee Company”), in accordance with the Section 44A of the
Banking Regulation Act, 1949 and the Reserve Bank of India Master Direction - Amalgamation of Private
Sector Banks Directions, 2016 (“Proposed Transaction”). AU Small Finance Bank, in a late night statement, made a revelation about this development. AU Small Finance Bank informed to National Stock Exchange of India and BSE today, the outcome of Board Meeting – Amalgamation of Fincare Small Finance Bank Limited into and with AU Small Finance Bank.
The Scheme is subject to approval of the respective shareholders of shareholders of the Transferor Company and Transferee Company, the Reserve Bank of India (the “RBI”) and the Competition Commission of India (the “CCI”).
The share exchange ratio for the amalgamation of the Transferor Company into and with the Transferee
Company shall be 579 (Five Hundred Seventy Nine) equity shares of face value of Rs10/- each of the
Transferee Company for every 2,000 (Two Thousand) equity shares of face value of Rs10/- each of the
Transferor Company.
The Board of Directors has also accorded approval for execution of an implementation agreement to be entered into between the Transferor Company, Fincare Business Services Limited (Transferor Company’s
promoter) and the Transferee Company which, inter alia, sets out the manner of effecting the Proposed
Transaction, the representations and warranties being given by each party and the rights and obligations
of the respective parties in relation to the Proposed Transaction (“Implementation Agreement”).
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