Fintech Firm Slice Gets NCLT Nod To Merge With North East Small Finance Bank

Last updated on August 28th, 2024 at 09:05 pm

Slice gets NCLT nod to merge with North East Small Finance Bank

Fintech firm Slice gets NCLT nod to merge with North East Small Finance Bank

On August 19, 2024, Slice, a fintech startup, got approval to merge with North East Small Finance Bank (NESFB). The National Company Law Tribunal (NCLT) in Guwahati has agreed to the merger plan, which means Slice will combine its assets with NESFB. Both the Reserve Bank of India (RBI) and the Competition Commission of India (CCI) had already approved the merger earlier.

A year ago, the RBI gave its green light, and in March 2024, the CCI also approved the plan. Back in March 2023, Slice bought a 5% share in NESFB for $3.4 million.

Slice, based in Bengaluru, was valued at about $1.8 billion during its last fundraising round in 2022.

Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.

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