Highlights

• RBI has approved Mirae Asset Mutual Fund to acquire up to 9.50% stake.
• The approval is valid for one year from the date granted.
• Equitas Small Finance Bank shares traded higher during the June 2 session.

Equitas Small Finance Bank Limited (NSE:EQUITASBNK) remained in focus after the bank disclosed that the Reserve Bank of India (RBI) has granted approval to Mirae Asset Mutual Fund for acquiring a higher stake in the lender.

The disclosure was made through an exchange filing dated June 1, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to the bank, it received an intimation from the RBI at 17:21 hours on June 1 regarding the approval.

The development comes as institutional investors continue to monitor opportunities in India's banking and financial services sector.

Source: Analysis by Kalkine 

Mirae Asset Allowed to Acquire Up to 9.50% Holding

As per the RBI approval, Mirae Asset Mutual Fund has been permitted to acquire an aggregate holding of up to 9.50% of the paid-up share capital or voting rights in Equitas Small Finance Bank.

The approval relates to aggregate ownership and does not indicate an immediate acquisition of the entire permitted stake. Any acquisition would remain subject to applicable regulatory requirements and market transactions.

The bank informed exchanges that the approval is valid for a period of one year from the date of issuance by the RBI.

Approval Subject to Regulatory Compliance

The RBI approval is subject to compliance with various regulatory requirements, including provisions of the Banking Regulation Act, 1949, and the Reserve Bank of India (Commercial Banks–Acquisition and Holding of Shares or Voting Rights) Directions, 2025.

In addition, compliance with the Foreign Exchange Management Act, 1999, regulations issued by the Securities and Exchange Board of India (SEBI), and other applicable statutes, regulations, and guidelines will be required.

The approval framework ensures that any increase in shareholding remains aligned with banking sector ownership norms and regulatory oversight requirements.

Institutional Interest Remains a Key Market Theme

Approvals for higher shareholding limits are often tracked by market participants as they indicate the maximum ownership level that an investor may hold, subject to further acquisitions and compliance requirements.

For banks and financial institutions, regulatory approval from the RBI is required when investors seek to cross prescribed ownership thresholds. Such approvals form part of the regulatory framework governing shareholding in banking entities.

The disclosure from Equitas Small Finance Bank did not provide details regarding the timing or extent of any potential future acquisition by Mirae Asset Mutual Fund.

Share Performance

Equitas Small Finance Bank shares traded in positive territory during the June 2 session, the stock was trading at INR 69.80, up 0.56% from the previous closing price of INR 69.41. The stock opened at INR 69.40 and touched an intraday high of INR 71.04 before easing from peak levels.

During the session, it recorded a low of INR 68.23, while the volume-weighted average price (VWAP) stood at INR 69.97. The trading activity reflected investor attention following the bank's disclosure regarding the RBI approval granted to Mirae Asset Mutual Fund.

Source: TradingView

Key Risks

• Regulatory requirements may affect future shareholding changes.
• Approval does not guarantee immediate stake acquisition.
• Banking sector regulations may evolve over time.
• Market conditions could influence investor participation.

Summary

Equitas Small Finance Bank (NSE:EQUITASBNK) informed stock exchanges that the Reserve Bank of India has approved Mirae Asset Mutual Fund to acquire an aggregate holding of up to 9.50% in the bank. The approval remains valid for one year and is subject to compliance with applicable banking, securities market, and foreign exchange regulations. Following the disclosure, Equitas Small Finance Bank shares traded modestly higher during the June 2 trading session.

FAQs

Q: What approval has RBI granted regarding Equitas Small Finance Bank?
A: RBI has approved Mirae Asset Mutual Fund to acquire up to 9.50% aggregate holding in the bank.

Q: How long is the RBI approval valid?
A: The approval is valid for one year from the date it was granted.

Q: Does the approval mean Mirae Asset has already acquired 9.50% stake?
A: No, the approval only permits acquisition up to that limit, subject to regulatory compliance.