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Equitas Holdings Ltd. Company History and Annual Growth Details

The Company was incorporated as UPDB Micro Finance Private Limited on June 22, 2007 at Chennai as a private limited company under the Companies Act, 1956. Pursuant to a special resolution passed by the Shareholders on December 17, 2007, the name of the Company was changed to Equitas Micro Finance India Private Limited to convey the principle of fairness and transparency of the Company, and a fresh certificate of incorporation consequent to change of name was issued by the RoC on February 1, 2008. The microfinance business of the Company was demerged into Singhivi pursuant to a Demerger Scheme with effect from April, 1, 2011. Singhivi was later renamed as Equitas Micro Finance Private Limited. Pursuant to the Demerger Scheme, a resolution was passed by the Shareholders on January 30, 2012 and the name of the Company was changed to Equitas Holdings Private Limited and a fresh certificate of incorporation consequent to change of name was issued by the RoC on February 29, 2012. Pursuant to an order issued by the RBI on December 3, 2012, the Company was designated as a Non Systemically Important Core Investment Company and pursuant to the request made by the Company, the certificate of registration as a NBFC under Section 45 IA of the RBI Act was cancelled. Thereafter, pursuant to a special resolution passed by the Shareholders on June 12, 2015, the Company was converted into a public limited company and the name was changed to Equitas Holdings Limited. The RoC issued a fresh certificate of incorporation consequent to change of name on June 18, 2015.

Major events and milestones of the Company :

2007

-Incorporation of the Company.

2008

-The Company set up EDIT with the objective of furthering social initiatives.

2009

-Investment in core banking solution by a license agreement with Temenos Singapore Pte. Limited.

2010

-Incorporation of Equitas Housing Finance Private Limited as a wholly owned subsidiary of the Company.

2011

-Acquisition of the entire shareholding of V.A.P Finance Limited and Singhivi on March 21, 2011 and July 7, 2011 respectively, which were registered with the RBI as non-banking financial institutions. V.A.P Finance Limited was converted into a private company and a fresh certificate of incorporation was issued by RoC on March 30, 2011. Subsequently the name of V.A.P Finance Private Limited was changed to Equitas Finance Private Limited.

2012

-Demerger of the micro finance business undertaking pursuant to the order by the Madras High Court dated January 11, 2012 approving the Demerger Scheme with effect from April 1, 2011. The name of the Company was changed to Equitas Holdings Private Limited.

-Pursuant to the Company becoming a non-systemically important CIC, the certificate of registration under 45-IA of the RBI Act, as an NBFC (No. N-07-00768) was cancelled by the RBI at the request of the Company.

2013

-The name of Singhivi Investment & Finance Private Limited was changed to Equitas Micro Finance Private Limited.

2015

-Conversion of the Company into a public limited company and change of name to Equitas Holdings Limited.

-In-principle approval for Small Finance Bank pursuant to RBI Letter dated October 7, 2015 under reference DBR.PSBD.NBC (SFB-Equitas). No 4915/ 16.13.216/2015-16.

-Incorporation of Equitas Technologies Private Limited as a wholly owned subsidiary of the Company.

2016
-Equitas Holdings commences banking operations in 3 branches

2017
-Equitas Bank launches RFID sticker facility for customers.

2018

-Equitas launched selfeSavings, an interactive digital savings account. selfeSavings account can be opened with the web based interactive video form hosted in www.equitasbank.

2020

-Equitas launched new product "Equitas ELITE" .

2021

-Equitas Small Finance Bank Limited is the largest SFB in India in terms of number of banking outlets, and the second largest SFB in India in terms of assets under management

2023

- Approval of Scheme of Amalgamation of Equitas Holdings Limited and Equitas Small Finance Bank Limited

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