State Bank of India (SBI) does not expect any negative surprises on the stressed asset front post-merger, which will be completed by May-end, its Chairman Arundhati Bhattacharya said. The nation’s largest lender...
Magma Fincorp to sell NPAs for Rs 600 crore
Non-banking financial company Magma FincorpBSE 4.28 % today said it will sell its non-performing assets for about Rs 600 crore. The decision was taken by the Management Committee of the board of directors at a meeting...
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Tata Motors is planning to hive off its vehicle financing subsidiaries under Tata Motors Finance Ltd by way of a merger with Tata Capital, to streamline its operations and deleverage its balance sheet, said people in...
Japan’s MUFG set to pick 20% stake in HDFC Bank arm HDB Financial for $2 bn
Bank of Tokyo-Mitsubishi UFJ (MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision...
Former Blackstone executive Mathew Cyriac set to buy ex-firm’s 51% stake in International ARC
Blackstone, the world’s largest alternative asset manager, is exiting the distressed assets space in India by selling its controlling interest in a high-profile, five-year-old joint venture that includes the Tata Group...
Regional Rural Bank mergers exempted from CCI Approval
The government has decided to exempt mergers of regional rural banks (RRBs) ordered by it from the requirement of clearance from the Competition Commission of India, a senior official said, an indication that the next...
TPG Capital, other PEs eye 26% in BoB credit card arm
Private equity groups including TPG Capital, Warburg Pincus, Westbridge Capital and domestic fund Gaja Capital are in early stages of talks to acquire about 26% stake in BoB Financial Solutions, the credit card arm of...
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...
IndoStar Capital considers selling stake in housing finance unit
IndoStar Capital Finance is considering selling part of its stake in a home loan subsidiary for raising resources to address concerns over the private equity-backed company’s ability to continue as a going concern. The...
Yes Bank selects JC Flowers to acquire $6 bn bad loans
Yes Bank Ltd’s board has selected JC Flowers Asset Reconstruction Co. as the joint venture partner to buy ₹48,000 crore (around $6 billion) of the private-sector lender’s bad loans. With the final approval from Yes...
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...
UK-based investor Nithia Capital eyes more acquisitions in steel space
UK-based global advisory and investment firm, Nithia Capital, which recently snapped up Crest Steel and Power, is eyeing more acquisitions. “There are at this point three or four active transactions that we are pursuing...