Delhi HC stays Unity SFB capital raise and warrant conversion in BharatPe dispute
The Delhi High Court has granted BharatPe interim relief, restraining Unity Small Finance Bank from raising authorised capital or converting warrants into CCPS. BharatPe says the moves could dilute its 49% stake to about 21% without its consent; the matter is listed for October 28.
Delhi High Court temporarily blocked Unity SFB from increasing authorised capital and converting warrants into CCPS, backing BharatPe’s claim that the move needs its consent and could dilute its 49% holding. The matter will be heard on October 28.
Why this matters
The court action adds a governance and ownership risk to BharatPe's recent operating agenda, following its August 2023 POS expansion plan and April 2024 appointment of Nalin Negi as CEO with a profitability focus.
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