Equitas Holdings has sold an additional 4 percent stake to Franklin Templeton Mutual Fund, as part of the exercise to pare its foreign shareholding to be able to set up a small finance bank. The company is one of the 10 entities to get an in-principle approval from the Reserve Bank India in September 2015 to set up small finance banks.
With this, the shareholding of Franklin Templeton Mutual Fund will go up to 7.87 percent (2.63 crore shares) in Equitas, from 3.78 percent earlier.
Equitas Holdings’ main business is microfinance. The company also offers other services such as housing finance, vehicle finance, loans against property and business loans to small and medium enterprises.
