Deal values the housing finance unit at $462.5 million.
CSB has informed RBI and is in the process of appointing a banker to find investors.
Proceedings were earlier initiated against Essar Steel and Monnet Ispat and Energy.
Aion and Everstone are also reportedly interested in the pvt sector lender.
It has so far bought bad loans from small and medium enterprises
The size of the deal is likely to be Rs350-400 crore.
The buzz about Kotak Mahindra Bank looking to buy Axis Bank refuses to die down. On Wednesday, Kotak’s managing director Uday Kotak reiterated his interest in looking at a possible acquisition of the Specified Undertaking of Unit Trust of India’s (SUUTI) 12% stake in Axis if he is approached. “If… Read more »
Global private equity (PE) firm Carlyle Group has emerged as the front runner for GE Capital Corp.’s stake in SBI Card, the credit card joint venture between the US-based company and India’s largest lender State Bank of India (SBI), at least two people privy to the matter told Mint. “Carlyle… Read more »
Seven years after being hit by the microfinance crisis that originated in Andhra Pradesh, control of microfinance lender Spandana Sphoorty Financial Ltd is set to change hands. The microfinance lender is in talks with private equity firm Kedaara Capital Investment Managers Ltd to sell more than 26% in the company,… Read more »
This will help the bank improve its capital adequacy position