Event Date: January 4, 2025
AU Small Finance Bank Limited (AUSFB) provided an update on April 1, 2025, regarding the disclosure submitted by Fincare Business Services Limited (FBSL) concerning the sale/transfer of AUSFB shares, as per Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
FBSL, the former Holding company of Fincare Small Finance Bank (Fincare SFB), had been a 'Major Shareholder' in AUSFB since the amalgamation of Fincare SFB into AUSFB on April 1, 2024. FBSL is undergoing voluntary liquidation and, as part of that process, transferred 4,60,02,638 equity shares (approximately 6.15%) of AUSFB to its underlying shareholders. The allocation of these shares was approximately 2.99% to FIIs/FPIs, 1.16% to AIFs, 0.81% to Domestic QIBs, and 1.19% to Public and others.
Following this transaction, FBSL held 85,728 shares of AUSFB as of March 31, 2025, ceasing to be a 'Major Shareholder'.
The enclosure to the update contained a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Fincare Business Services Limited (under voluntary liquidation), dated March 29th, 2025.
Prior to the transactions, FBSL held 5,97,82,387 shares of AUSFB, representing 8.03% of the total share/voting capital. FBSL then disposed of 5,96,96,659 shares (8.02%). The mode of disposal was open market sales and off-market distribution, the latter pursuant to the voluntary liquidation.
Specifically, open market sales occurred on August 26, 2024 (1,27,56,118 shares), August 30, 2024 (3,50,000 shares), March 27, 2025 (5,50,000 shares), and March 28, 2025 (37,903 shares). Off-market distribution of shares during liquidation occurred on March 28, 2025 (4,59,97,660 shares) and March 29, 2025 (4,978 shares).
The equity share capital and total voting capital of AUSFB before the sale was 7,44,23,29,180, represented by 74,42,32,918 shares of Rs. 10 each. After the sale, those values remain the same.
After all the transactions, FBSL holds 85,728 shares of AUSFB, representing 0.01% of the total share.
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Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
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Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
