Anagram Partners advises Fincare Small Finance Bank on its merger with AU Small Finance Bank in an all-share swap deal of USD 530 million

March 14, 2024
Shuva Mandal
Partner
Ankit Mishra
Partner
Vidisha Ambade
Associate
Rajni Tolani
Associate

In a landmark deal, Fincare Small Finance Bank (Fincare SFB) is set to merge with AU Small Finance Bank (AU SFB) in an all-share swap deal, making it the first ever merger in the small bank finance space. The scheme has been sanctioned in the exercise of the powers contained in sub-section (4) of Section 44A of the Banking Regulation Act, 1949 by the Reserve Bank of India (RBI).

Fincare Small Finance Bank is a digitally enabled small finance bank that offers a broad range of deposit and asset solutions catering to 54 lakh customers. The merger will be effective from April 2024 onwards, with all branches of Fincare Small Finance Bank operating as branches of AU Small Finance Bank with effect from April 01, 2024.

Anagram partners acted as the legal advisor to Fincare Small Finance Bank. Partners, Shuva Mandal and Ankit Mishra led the team comprising Vidisha Ambade, and Rajni Tolani.

Read more at:

Fincare SFB to merge with AU Small Finance Bank in all-share deal (business-standard.com)

Fincare SFB to be amalgamated into AU Small Finance Bank (businessinsider.in)