Equitas SFB: GST demand cut from Rs.534 crore to Rs.24 crore

Regulatory & Legal View source PDF Explain this filing

EQUITASBNK · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+2.0%Reaction day

₹66.20

prior close

₹66.08

announcement price

After-mkt

timing

Nifty Microcap 250market+1.0%+0.9% vs market

Other Bank peers, median of 8sector+0.8%+1.2% vs sector

On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 1.2 pts more than its Other Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.1

10m

+0.1

15m

+0.3

30m

+0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.0+1.0+0.9+0.8+1.2

Next day

+3.7+0.8+2.9+1.6+2.1

+3.0-0.5+3.6-0.7+3.7

+2.8-0.5+3.4+1.3+1.5

+2.8+0.8+2.0+0.1+2.6

+4.2+0.5+3.7+0.7+3.5

-0.2-2.0+1.8-1.5+1.2

15d

+0.5-6.4+6.8-4.4+4.9

-21.3-5.9-15.4-10.0-11.3

—————

UpDownMarket · Nifty Microcap 250Sector · Other Bank peers, median of 8Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The bank got a positive update on a GST show cause notice for FY 2022-23 from Tamil Nadu tax authorities. After a personal hearing on September 25, 2026, the proposed assessment dropped sharply from Rs. 533.81 crore to Rs. 23.95 crore. The revised demand covers tax of Rs. 21.67 crore, interest of Rs. 0.11 crore, and penalty of Rs. 2.17 crore. The bank believes the remaining amount is also eligible for exemption and will submit further evidence. Further developments will be shared in due course.

Likely market impact

Positive update: GST demand cut by around 95 percent after bank submissions, sharply reducing potential financial hit.