India’s Manappuram Finance said on Thursday Bain Capital would invest 43.85 billion rupees ($508 million) to acquire an 18% stake in the gold loan provider at a time record prices of the precious metal has made...
HSBC in talks to sell German fund administration unit to BlackFin, Bloomberg News reports
HSBC Holdings is in advanced talks to sell its German fund administration business to private-equity firm BlackFin Capital Partners, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. The...
IIHL completes acquisition of RCAP; mgmt transfer to take place on Wed
IndusInd International Holdings Ltd (IIHL) has completed the transaction to acquire debt-ridden Reliance Capital (RCAP) by transferring the entire bid amount to lenders, IIHL chairman Ashok Hinduja said on Tuesday. The...
NCLT gives all parties 8 days to complete procedural issues for ownership transfer of RCAP to IIHL
The National Company Law Tribunal (NCLT) on Wednesday gave additional eight days to all parties to complete procedural issues for the ownership transfer of debt-ridden Reliance Capital (RCAP) to IndusInd International...
B2B SaaS company Perfios acquires debt management firm CreditNirvana
Perfios, a provider of software services to banks and other financial services companies, has acquired CreditNirvana, a debt management and collections platform. The company did not disclose the financial terms of the...
NCLAT upholds ICICI Securities delisting, dismisses shareholders challenge
The companies appeal court on Monday upheld the delisting of ICICI Securities Ltd from the stock exchanges, rejecting challenges by shareholders Quantum Mutual Fund and an individual investor. “All appeals dismissed,”...
Jio Financial buys out SBI’s stake in payments bank JV
Jio Payments Bank, a joint venture between Jio Financial Services and the State Bank of India (SBI), is set to become a wholly-owned subsidiary of the Mukesh Ambani-promoted financial services company. On Tuesday, the...
US payments firm Cantaloupe exploring options including sale, sources say
Cantaloupe is exploring strategic options, including a potential sale or a go-private transaction, four people familiar with the matter said, the latest specialized U.S. payments processor to consider such a move...
Blackstone-backed PAG mulls sale of $1.2 bn stake in Nuvama
Asian private equity firm PAG is considering options that may lead to a sale of its majority stake in Mumbai-listed Nuvama Wealth Management Ltd., according to people familiar with the matter. Blackstone Inc.-backed PAG...
Flipkart-backed super.money acquires checkout financing platform BharatX
Flipkart-backed fintech firm Super.money on Tuesday acquired checkout financing platform BharatX in an all-cash deal as the company continues to launch new payment and credit offerings since its launch last year. The...
Centre kickstarts process for stake sale in PSBs and listed PFIs
As part of the long-promised financial sector reforms, the government on Monday kickstarted the process of diluting its equity in select public-sector banks (PSBs) and listed public financial institutions (PFIs) by...
Bain Capital closes in on likely $1 billion Manappuram Finance deal
Bain Capital is finalising a deal with the promoters of Manappuram Finance to buy a controlling stake in the Kerala-based gold loan provider and non-bank lender, people aware of the development said. The Reserve Bank of...
