Atom Financial Services Group today announced the completion of its acquisition of Sirius Capital, a UAE-based investment banking and special situations advisory firm, and the formal launch of Atom Investment Banking...
Financial services
Policybazaar parent PB Fintech promoters plan stake sale worth ₹654 crore
Promoters of PB Fintech, the parent company of Policybazaar, are set to offload shares worth up to ₹654 crore through a block deal on Thursday, according to a term sheet seen by Business Standard. The proposed...
Elevation Capital sells Rs 964 crore Paytm Shares via block deals
According to stock exchange filings, multiple entities under Saif Partners participated in the bulk deals, selling shares worth about ₹964 crore. Saif Partners, which is among Paytm’s earliest investors, was...
Goldman Sachs, SocGen, others buy 1.34% stake in Paytm for ₹964 crore
Global financial institutions, including Goldman Sachs, Societe Generale, and Citigroup Global Markets, have collectively acquired a 1.34 per cent stake in One 97 Communications, the parent company of Paytm, from SAIF...
PFC board clears next step for REC merger, seeks govt approval
Power Finance Corporation has moved a step closer to its proposed merger with REC Limited after its board approved seeking formal approval from the President of India for the transaction. In an exchange filing, PFC said...
Jio Financial Services, Allianz Group ink 50:50 general, health insurance JV
Jio Financial Services (JFSL) and Germany’s Allianz Group have signed a binding agreement to set up a 50:50 primary insurance joint venture focused on the general and health insurance segment, tapping into a ₹3.34...
Sammaan Capital sells Rs 5,000 crore loan portfolio to stressed loan aggregator Arcil
Non-banking finance company Sammaan Capital sold a Rs 5,000 crore loan portfolio to stressed loan aggregator Arcil, in one of the largest such loan sales in the just-ended fiscal year. The loan pool spans real estate...
Japan’s MUFG Bank acquires 20 pc stake for Rs 39,618 cr in Shriram Finance
Japan’s MUFG Bank on Wednesday acquired 20 per cent stake in Shriram Finance Ltd (SFL) for Rs 39,618 crore. The transaction represents the largest cross-border investment in India’s financial services sector...
Govt explores options to retain 51% stake in merged PFC-REC entity
The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said...
CCI clears Advent to acquire 14.3% stake in Aditya Birla Housing Finance
Fair trade regulator CCI on Tuesday cleared Advent International’s proposal to acquire a 14.3 per cent stake in Aditya Birla Housing Finance Ltd. The development came after the boards of Aditya Birla Capital and...
TVS Venu Group to buy PGIM India’s asset management business
TVS Venu Group Thursday said it has signed definitive agreements to acquire the asset management business of PGIM India Asset Management from Prudential Financial. The transaction will see TVS Venu Group, through TVS...
Canada’s Sun Life buys remaining stakes in BGO, Crescent Capital
Canada’s Sun Life Financial said on Monday it had completed an acquisition of the remaining stakes in BGO and Crescent Capital that it did not already own. The insurer paid C$1.59 billion ($1.14 billion) for...
