Equitas Holdings Limited (EHL) was incorporated as UPDB Micro Finance Private Limited on June 22, 2007 at Chennai as a private limited company under the Companies Act, 1956. The name of the company was subsequently changed to Equitas Micro Finance India Private Limited and the Registrar of Companies, Tamil Nadu situated at Chennai (the RoC) issued a fresh certificate of incorporation on February 1, 2008. The name of the company was subsequently changed to Equitas Holdings Private Limited and the RoC issued a fresh certificate of incorporation on February 29, 2012. The company was then converted into a public limited company and consequently, its name was changed to Equitas Holdings Limited and the RoC issued a fresh certificate of incorporation on June 18, 2015.
The activity of the company is to making investment in subsidiary companies and providing loans to them. It has no other operations.
The company has the following Wholly Owned Subsidiaries:
Equitas Small Finance Bank Limited, licensed under Section 22 of the Banking Regulations Act, 1949 to carry on the business of Small Finance Bank.
Equitas Technologies Private Limited (ETPL), a Company registered under the Companies Act, 2013 engaged in the business of freight aggregation.
Business area of the company
Equitas Holdings is a Non-Deposit Taking Systemically Important - Core Investment Company - (CIS-ND-SI) registered with The Reserve Bank of India. The activity of the company is to making investment in subsidiary companies and providing loans to them. It has no other operations.
Major events and milestones
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 nonbanking 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 its 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.
2012 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.
2015 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.
2015 Incorporation of Equitas Technologies Private Limited as a wholly owned subsidiary of the company.
2016 RBI granted in principle licence for Small Finance Bank.
2016 Launch of Equitas Small Finance Bank.
2016 Initial Public offering of the shares of Equitas Holding Limited over Subscribed 17.2 times.
2017-18 The Company infused a capital of Rs 5 crore in its subsidiary Equitas Technologies Private Limited by subscribing to its equity shares on a rights basis.