EQUITAS

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

Some of the Milestones:

• 2007: The incorporation of the Company took place.
• 2008: It also set up EDIT with the objective of furthering social initiatives.
• 2009: Also, the investment in core banking solution by a license agreement with Temenos Singapore Pte. Limited.
• 2010: The incorporation of Equitas Housing Finance Private Limited as a wholly-owned subsidiary of the Company took place.
• 2011: The acquisition of the entire shareholding of V.A.P Finance Limited and Singhvi as 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 also converted into a private company, and RoC issued a fresh certificate of incorporation on March 30, 2011. Also, the name of V.A.P Finance Private Limited was being changed to Equitas Finance Private Limited.
• 2012:
• Also, the demerger of the microfinance business undertaking according to the order by the Madras High Court as on January 11, 2012, approving the Demerger Scheme with effect from April 1, 2011. The company name was changed to Equitas Holdings Private Limited.
• According to the Company becoming a non-systemically important CIC, the certificate of registration under 45-IA of the RBI Act, as the RBI canceled an NBFC (No. N-07-00768) at the request of the Company.
• 2013: The name of Singhvi Investment & Finance Private Limited was changed to Equitas Micro Finance Private Limited.
• 2015:
• Conversion of the company took place into a public limited company and also the name changed 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: It also commenced banking operations in 3 branches.
• 2017: It launched an RFID sticker facility for customers.