Suryoday Small Finance Bank (SFB) issued a clarification to exchanges in response to news reports suggesting that the small finance bank is in talks with Clix Capital. Shares of Suryoday SFB were trading over 11% in early deals on Tuesday ₹201 per share on BSE, post merger reports after hitting 20% upper circuit in Monday’s session.
“..news on “Clix Capital, Suryoday in Exploratory Merger Talks”, which appeared on September 13, 2021, and would like to clarify that we are unable to comment on media speculation and rumours and it would be unfair for us to do so to,” the company said in an exchange filing on Monday.
It further states that the Bank’s management “continues to explore and evaluate various opportunities or associations in the interest of the Bank, as and when deemed appropriate, which are always the subject of a feasibility study and the consent required accordingly.” required by applicable law and other stakeholders.”
according to a business standard As per reports, Clix Capital Services, a digital-lending shadow bank, is in talks with Suryoday SFB. The report added that due scrutiny is already underway for the proposed merger, which is at a fairly advanced stage and the deal is expected to close soon.
Suryoday Small Finance Bank Limited is a scheduled commercial bank. Starting its operations as an NBFC, Suryoday started its operations as an SFB in 2017. The bank has a presence in 13 states and union territories across India through 555 banking outlets with a strong presence in Maharashtra, Tamil Nadu and Odisha.
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