Small finance bank licence holder RGVN Microfinance (North East) Ltd has cut foreign stake in the firm from 68% to 48% by raising Rs109 crore from investors including Ratan Tata and SIDBI Trustee Co. Ltd. RGVN will now...
Microfinance firm Sonata Finance raises Rs 85 cr equity round led by France’s AFD
Microfinance institution Sonata Finance from Lucknow has raised an equity round of Rs 85 crore led by Proparco, subsidiary of Agence Française de Développement (AFD), headquartered in France, and Triodos Fair Share Fund...
IIFL Finance to buy Samasta Microfinance
New Delhi: India Infoline Finance Ltd (IIFL Finance), a non-banking finance company and unit of financial services firm IIFL Holdings Ltd, will venture into the microfinance segment with the acquisition of Bengaluru...
Manappuram Finance Looks to Acquire microfinance companies in North and East
KOLKATA: South-based gold loan provider Manappuram FinanceBSE -1.81 % is on the prowl for an acquisition of microfinance companies as it looks to grow its share of non-gold loans, riding on the sector’s success...
IDFC Bank announces acquisition of Grama Vidiyal Microfinance
MUMBAI: IDFC Bank on Tuesday announced the acquisition of Grama Vidiyal Microfinance, a Trichy-based Microfinance company. The bank said it had completed a share purchase agreement with the lender, but declined to...
Bandhan Bank: Outgoing MD & CEO Chandra Shekhar Ghosh considering stake sale in promoter group, says report
Bandhan Bank MD & CEO Chandra Shekhar Ghosh is reportedly considering options to monetise his holding in Bandhan Financial Services, moving towards a partial divestment in Bandhan Bank, the Hindu BusinessLine...
Kotak Bank acquires Sonata Finance for Rs 537 cr
Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs 2,620...
CCI approves merger of Slice with North East Small Finance Bank
Competition watchdog Competition Commission of India on Tuesday approved the merger of fintech startup Slice with troubled lender North East Small Finance Bank (NESFB). As per the plan, Garagepreneurs Internet, which...
RBI approves AU Small Finance Bank acquisition of Fincare Small Finance Bank with effect from April 1
The Reserve Bank of India on Monday gave its go-ahead to the first ever merger between two small finance banks. As per the agreement between the two, shareholders of Fincare Small Finance Bank will receive 579 equity...
Svatantra Microfin completes acquisition of Chaitanya India Fin Credit
Ananya Birla-led Svatantra Microfin has on Friday completed the acquisition of Sachin Bansal’s Navi Group’s subsidiary Chaitanya India Fin Credit. “It’s official!! This is the moment we formally...
Small finance banks thinking big likely to switch on the M&A mode
More small finance banks, that began operations less than a decade ago, may explore mergers either with competitors, non-bank lenders or financial technology companies as they look to achieve economies of scale faster...
AU Small Finance Bank to acquire Fincare Small Finance Bank in share deal
AU Small Finance Bank is all set to acquire Fincare Small Finance Bank in an all share deal and merge it with itself, subject to regulatory approvals. As per the agreement between the two, shareholders of Fincare Small...