SBI’s sale will help bolster its capital buffers as it attempts to grow loans at a faster pace.
The US private-equity firm is considering buying Punjab National Bank’s shares in PNB Housing, which would give it a controlling stake.
A confluence of factors helped India draw more inbound investments than China for only the second time in a decade. Foreign acquirers struck a record $39 billion of acquisitions in India this year.
KKR’s two Indian credit units may spend as much as 20 billion rupees ($270 million) combined to purchase portfolios from local NBFCs.
Uday Kotak is seeking to meet a year-end deadline to reduce his stake in Kotak Mahindra Bank below 20 per cent. A recent preference share proposal was shot down by the Reserve Bank of India.
Adani Power will take over about 38 billion rupees ($543 million) of loans out of a total of 58 billion rupees that GMR Chhattisgarh Energy owes.
There are more billion-dollar deals being weighed, as pharma giant GlaxoSmithKline examines selling its stake in its local consumer health subsidiary, worth about $3.1 billion, and Kraft Heinz considers the sale of its children’s milk drink brand Complan in India, which may fetch about $1 billion.
The Blackstone REIT, which comprises properties that count Microsoft and Rolls-Royce as tenants, would be a crucial test after much-hyped infrastructure trusts failed to gain traction in the Indian market.
India’s third-largest state-run lender will issue preferential shares to the government.
Facebook Inc. is set to offer its WhatsApp payment services to the whole of India as early as next week in an attempt to win market share, even though its partners aren’t all ready, said people familiar with the matter. The messaging app will partner HDFC Bank Ltd., ICICI Bank… Read more »