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ESAF Financial Holdings submits fresh proposal to bring down ownership in ESAF Bank
Summary by The Economic Times
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ESAF Financial Holdings submits fresh proposal to bring down ownership in ESAF Bank
ESAF Small Finance Bank's promoter, ESAF Financial Holdings, has submitted a revised plan to the RBI to reduce its stake. The new proposal ensures Dia Vikas Capital's shareholding stays below 5%, a change from the previous 12.17% that was rejected. This move aims to provide exits for existing shareholders and introduce new ones, ultimately lowering the promoter's stake.
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