Walmart Inc.’s Indian payments unit PhonePe will acquire two wealth management firms for a total enterprise value of $75 million bringing the retail giant head-to-head with Amazon.com Inc. in the country’s rapidly...
Financial services
Voya plans to buy majority of Allianz’s U.S. asset management business
U.S. insurance plan provider Voya Financial Inc said its investment management unit would take over “a substantial majority” of Germany-based Allianz’s asset management business in the United States...
Paytm’s Acquisition Of General Insurer Raheja Qbe Terminated As It Overshoots The Deadline
One97 Communications Ltd., which owns digital payments firm Paytm, said its share purchase agreement to acquire 100% of Raheja QBE General Insurance Company Ltd. has been terminated as its transaction could not be...
Jack Ma Exits Paytm Mall; Sells 43% For ₹42 Crore
Five years after making its biggest bet in India’s e-commerce market, Jack Ma-led Alibaba and Ant Financials have exited Paytm E-commerce Pvt. Ltd, the parent entity of Paytm Mall. Paytm E-commerce bought back the...
Vivriti Capital Raises Additional $30 Mn From Tvs Capital
Non-bank lender Vivriti Capital Pvt. Ltd has raised an additional $30 million (around ₹228 crore) from TVS Shriram Growth Fund 3 as part of its Series C round. The Chennai-based company had raised $55 million in the...
IPO plan okayed, TVS Supply Chain Solutions may go in for acquisitions
TVS Supply Chain Solutions, a part of TVS Mobility Group, has obtained Sebi’s approval to raise funds through initial share sales. It will be the first TVS Group entity to go public in more than two decades and a...
Deadline for Reliance Cap resolution plans extended till June 30: Report
Lenders have agreed to extend the deadline to submit bids for the resolution of debt-ridden Reliance Capital Ltd by a month till June 30 after bidders’ cold response so far, sources said. A Committee of Creditors...
Future Group sells 25% stake in FGIICL to partner Generali for Rs 1,266 cr
Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset...
Merger of two Shriram NBFCs likely to be completed by December
To facilitate a hassle-free merger of Shriram City Union Finance (Shriram City) with Shriram Transport Finance (STFC), the former has started a pilot project to train employees to cross-sell STFC products. The project...
Brazil’s Itau Unibanco buys stake in XP Inc for $1.6 billion
Brazilian lender Itau Unibanco said on Friday it has acquired an 11.36% stake in brokerage XP Inc for around 8 billion reais ($1.61 billion). The deal does not change XP’s governance and should not have a relevant...
Brookfield Entity Sagen To Acquire 31% In Imgc
The India Mortgage Guarantee Corporation (IMGC) today announced that Sagen MI Canada has signed a definitive agreement to acquire a stake representing approximately 31% of the Company in a primary funding round. The...
HDFC inks pact to sell 10% equity in HDFC Capital to Abu Dhabi Investment Authority
India’s largest private mortgage lender Housing Development Finance Corporation (HDFC) has entered into an agreement to sell 10% of the fully diluted paid-up share capital of its wholly-owned subsidiary HDFC Capital...