EASF Small Finance Bank: RBI rejects Dia Vikas Capital's proposal to increase stake over 5%

ESAF Small Finance Bank Ltd said it has received a communication from the Reserve Bank of India (RBI) stating that the acquisition of shares by Dia Vikas Capital Pvt Ltd, under a proposed scheme of arrangement, in excess of 5% of the bank’s paid-up share capital “cannot be acceded to.”

The bank clarified that while it is not a party to the scheme, the proposal involved a significant change in promoter shareholding.

Accordingly, the update has been disclosed as a material development under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Following the RBI’s decision, the promoter company’s board, in consultation with the concerned shareholders, is evaluating the implications and considering alternative options to ensure compliance with the RBI Bank Ownership Directions, 2023.

The scheme, approved by the promoter company’s board in December 2024, will not be filed with the National Company Law Tribunal pending further review.

As of 2:38 pm, shares of ESAF Small Finance Bank were trading 3.46% lower at ₹28.50 on the NSE.

Also read: ESAF SFB Q2 Update: Deposits up 6% at ₹22,894 crore; secured advances jump 62%



Earlier in October, the Thrissur-based lender reported steady growth in its deposit base. ESAF Small Finance Bank’s total deposits rose 5.93% year-on-year to ₹22,894 crore as of September 30, 2025.

The bank’s current and savings account (CASA) deposits grew 13.67% to ₹6,046 crore, improving the CASA ratio to 26.41% from 24.61% a year earlier, indicating a gradual strengthening of its low-cost deposit base.