Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
The country's largest lender State Bank of India on Wednesday announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for Rs 8,888.97 crore. State Bank of India (SBI) has received Rs 8,888.97 crore from the acquirer Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG), the bank said in a regulatory filing.
According to sources close to the development, M&M is preparing to sell its 14.04 per cent stake in Swaraj Mazda, it inherited after the acquisition of Punjab Tractors Ltd. While details are being worked out, the sources said, the stake sale could be priced at around Rs 292 per share.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
Japan's Sumitomo Mitsui Banking Corporation on Wednesday announced that it would invest Rs 1,366 crore (Rs 13.66 billion) for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
Japanese commercial vehicle major Isuzu is entering the Indian commercial vehicle market through a technical agreement with Swaraj Mazda, the joint venture between Japan's Sumitomo Corporation and Punjab Tractors.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Leading oil companies dedicated the second day of India Energy Week (IEW) 2025 to announcing strategic deals and business agreements across the supply chain - from sourcing more crude oil supply to deploying more domestic ships and building gas distribution capacity.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Private equity company Actis is in talks with Isuzu Motors for exiting automobile company Swaraj Mazda. According to sources, though Actis has been looking to exit for quite sometime, the deal is stuck over difference in valuation.
A common factor that binds all these men is greed.
Some investors warned of a coming British or even global recession as sterling collapsed to hit its lowest since 1985.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The annual summit between India and Japan on Saturday will seek to forge greater bilateral trade and investment ties, with Japanese Prime Minister Shinzo Abe coming with a high-powered business delegation.
The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.
Licence winners are expected to be announced by the first quarter of 2014.
The 30-share Sensex ended up 33 points at 27,241.78 and the 50-share Nifty ended up 27 points at 8,200.70.
Markets shrugged off RBI's neutral stance on key policy rates.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Investors will remain cautious ahead of F&O expiry.
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