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.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
Deal with current owner Exide may be signed next week
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Raj Barathur -- Indian American entrepreneur, geneticist, professor and biopharmaceutical industry leader -- stayed the course even when diagnosed with lung cancer
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A common factor that binds all these men is greed.
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.
Licence winners are expected to be announced by the first quarter of 2014.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Some investors warned of a coming British or even global recession as sterling collapsed to hit its lowest since 1985.
