The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...
NCLT approves Aditya Birla group plan to merge NBFCs: Sources
Aditya Birla Group plans to consolidate its non-banking finance companies (NBFCs) to create better synergies and ensure optimal utilisation of resources and greater economies of scale, following approval by the National...
Adhesive maker Pidilite to enter lending business, to acquire promoter group’s NBFC firm
Adhesive and construction chemicals manufacturer Pidilite Industries plans to enter the lending business, providing small-value retail loans. To facilitate this, Pidilite Industries would acquire an existing NBFC...
Rajiv Rattan buys Lone Star’s stake in NBFC for Rs 611 crore
Ending a long and bitter dispute, Rajiv Rattan, one of the founding members of Indiabulls, has acquired a 50% stake of its joint venture (JV) partner Lone Star Funds in RattanIndia Finance for Rs 611 crore (about $73...
L&T Finance may sell its wholesale book to banks, NBFCs: Report
L&T Finance Holdings is looking to sell its wholesale loan book to interested banks, non-banking finance companies (NBFC) and funds, according to media report. L&T Finance is aiming to become a 100 percent...
Fintech firm BharatPe acquires controlling stake in NBFC Trillion Loans
Full-stack fintech services provider BharatPe Group announced it has completed a majority stake (51 per cent) acquisition in Trillion Loans, a Mumbai-based non-banking financial company (NBFC), for an undisclosed sum...
LegalPay acquires strategic stake in Gujarat-based NBFC Padmalaya Finserve
Third-party litigation funding startup LegalPay has acquired a strategic minority stake in the Gujarat-based non-banking finance company (NBFC) Padmalaya Finserve. The NBFC plans to disburse about Rs 1,000 crore in...
Gujarat-based NBFC tops NARCL bid for consolidated construction
Gujarat-based NBFC Raj Radhe Finance has offered Rs 130 crore to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Co Ltd’s (NARCL) Rs 100-crore...
STFC to merge with its NBFC business
Shriram Transport Finance Company Ltd (STFC) has received approvals from equity shareholders and secured and unsecured creditors for the proposed merger with Shriram City Union Finance (SCUF), it said on Wednesday. As...
DBS Bank India acquires 9.9% in NBFC Svakarma Finance
Singaporean lender DBS Bank’s local unit said it has acquired a 9.9 per cent stake in the micro businesses-focused non-bank finance company Svakarma Finance for an undisclosed sum. DBS Bank India said the stake...
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...
Merger with private bank, NBFC proposed at IDBI Bank roadshows
A merger with an existing private sector bank or a non-bank finance company was among options proposed for IDBI Bank at recent roadshows held to assess interest for the privatisation of the lender, according to people...