India: Ujjivan SFB initiates steps to merge with holding company Ujjivan has recently sold about 12.6 million shares to 17 domestic institutional investors at Rs210 per share. Photo: Hemant Mishra/Mint July 12, 2021 Ujjivan Small Finance Bank (SFB) on Saturday said it would initiate steps for the amalgamation of the holding company Ujjivan Financial Services Ltd with the bank. The decision to merge the holding company with itself comes after the Reserve Bank of India (RBI) allowed small finance banks to apply for amalgamation on completion of five years from the date of commencement of business. “We are pleased to inform you that RBI vide its letter dated July 09, 2021 has informed the said Association (of Small Finance banks of India) that it has decided to permit small finance banks and respective holding companies to apply for the amalgamation of holding company with small finance bank, in terms of provisions of Master Direction on Amalgamation of Private Sector Banks, Directions, 2016 dated April 21, 2016, 3 (Three) months prior to completing five years from the date of commencement of business of small finance bank,” said the bank in its notice to the exchanges.