Microfinance institution CreditAccess Grameen (CA Grameen) expects to receive NCLT approval for its acquisition of Chennai-based Madura Microfinance Ltd in another couple of quarters, its managing director and chief...
Belstar inks deal to raise ₹350 crore
Belstar Microfinance Ltd, a subsidiary of Muthoot Finance Ltd, on Wednesday said it has signed definitive agreements to raise Rs350 crore of equity capital from new investor Affirma Capital and existing investors...
Warburg Pincus sells its stake in Cleanmax to US company for Rs 1,650 crore
Global private equity fund Warburg Pincus has sold its stake in rooftop solar power producer Cleanmax Enviro Energy to Augment Infrastructure, a US investment firm. The deal, a mix of both primary and secondary capital...
Inside BharatPe-Centrum proposed JV to acquire troubled PMC Bank
BharatPe’s proposed joint venture with non-banking financial company Centrum Finance to set up a small finance bank and acquire troubled Punjab and Maharashtra Co-operative (PMC) Bank is a landmark event for fintech...
Ujjivan, Equitas promoter holdings to fall to zero post mergers with SFBs
The reverse merger of Ujjivan Small Finance Bank (SFB) and Equitas SFB with their respective holding companies will bring down promoter shareholding to zero, thereby helping the entities comply with the Reserve Bank of...
Motilal Oswal Private Equity invests $25 mn in Fincare Small Finance Bank
India Business Excellence Fund–III, managed and advised by Motilal Oswal Private Equity (MOPE), has invested $25 million in a minority stake in Fincare Small Finance Bank (SFB) through a secondary acquisition. Fincare...
JM Financial’s PE fund invests ₹60 crore in packaging company Canpac Trends
JM Financial Private Equity has invested ₹60 crore in Canpac Trends Pvt. Ltd, Mumbai, a Gujarat-based folding carton and packaging solutions company, the PE fund said in a statement. This is the seventh investment by JM...
SBI Life acquires 9% stake in Paisalo Digital for ₹186.20 crore
SBI Life Insurance Company on Thursday said it has acquired nearly 9% stake in non-banking finance company Paisalo Digital for about ₹186.20 crore through the open market. SBI Life has acquired a total of 38,00,000...
Equitas mulls merger with NBFC to pare promoter stake
The Equitas Small Finance has begun exploring the possibility of a merger with a non-bank lender as a follow-up measure to pare promoters’ holding to 40% as mandated by the Reserve Bank of India. The bank’s initial...
Warburg Pincus to acquire 30% stake in Home First Finance
The US-based private equity major Warburg Pincus will acquire about 30% stake in Home First Finance Company (HFFC), the Mumbai-based affordable housing finance company. Warburg will invest about Rs.800 crore in HFFC...
Bandhan Bank says meets all licensing norms with promoters’ 21% stake sale
Bandhan Bank’s promoters on Monday offloaded nearly 21 per cent stake in the bank to comply with the Reserve Bank of India’s (RBI’s) ownership rule. Bandhan Financial Holdings (BFHL), the holding company of the bank...
Danish company Maj Invest buys 18% equity in SAVE Solutions for Rs 120 crore
Danish company Maj Invest has bought 18% equity in SAVE Solutions, an Indian financial inclusion company, for Rs 120 crore, reflecting investor confidence in the sector’s potential even amid Covid-19. SAVE Solutions is...