UK's CDC Group pares stake in Equitas Holdings

Equitas Holdings is the promoter of south-India based Equitas Small Finance Bank.

UK's development finance institution CDC Group has pruned its stake in Equitas Holdings Ltd by 2.61 per cent through sale of over 89 lakh shares in open market earlier this week, according to a regulatory filing.

''We have on February 25, 2021, sold (in open market) 8,930,410 equity shares of Equitas Holdings Ltd, constituting 2.61 per cent of the paid-up share capital of Equitas Holdings Ltd,'' CDC Group PLC said in a regulatory filing on Saturday.

The disclosures are required under Sebi regulation on substantial acquisition of shares and takeovers, it added.

Before the sale of shares, CDC Group held 7.84 per cent stake in Equitas Holdings equivalent to 26,791,230 equity shares. Hence, the total shareholding of the UK's development finance institution has now come down to 5.23 per cent equivalent to 17,860,820 equity shares. CDC Group is one of the public shareholders in Equitas Holdigns, as per the BSE data. Equitas Holdings is the promoter of south-India based Equitas Small Finance Bank.