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  3. Fincare SFB promoters to pump in ₹700 crore as part of the merger deal …

Fincare SFB promoters to pump in ₹700 crore as part of the merger deal with AU Small Finance Bank

30 Oct 2023

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Key Takeaways

  • The merger share: Fincare SFB shareholders get 579 shares of AU SFB for every 2,000 shares of Fincare SFB. Fincare SFB at around Rs 4,416 crore, which is about 3 times its book value as of Q2 FY24.

  • Post Merger: The merged combined balance sheet size of Rs 1.6 lakh crore, with over 98 lakh customers, 2,334 touchpoints, and 43,000 employees. 

  • The merger share: Fincare SFB shareholders get 579 shares of AU SFB for every 2,000 shares of Fincare SFB. Fincare SFB at around Rs 4,416 crore, which is about 3 times its book value as of Q2 FY24.

  • Post Merger: The merged combined balance sheet size of Rs 1.6 lakh crore, with over 98 lakh customers, 2,334 touchpoints, and 43,000 employees. 

Fincare Small Finance Bank Unlisted Shares

Fincare Small Finance Bank

0.00%

Expert Analysis

The share exchange ratio is fixed at 579 shares of AU Small Finance Bank for 2,000 shares of Fincare Small Finance Bank.

Expert Analysis:

  • According to an exchange filing by AU Small Finance Bank (SFB), the merger is expected to come into effect on February 1, 2024. This indicates that the deal is set to be finalized in FY24, pending regulatory approvals.

  • The merger has a balance sheet of Rs 1.6 lakh crore, 98 lakh customers, 2,334 touchpoints, and 43,000 employees.

  • Fincare SFB and AU SFB announced a strategic merger to create a more extensive and diversified banking.

Publisher:The Hindu Business Line