As part of the deal, RHDFC, the housing finance subsidiary of Religare Finvest, will also change hands.
Policy & Regulations
There is a need for strong laws to enable creation of financial products without compromising user trust.
Foreign equities, which account for 25% of the fund portfolio, picked up in Q4 delivering over 8 per cent returns.
Led by David Shirt, Astris Advisory Japan was formed a year ago.
The firm is said to target $300 million for a USD-denominated portion of the fund.
The three banks include National Australia Bank Ltd., Westpac Banking and ANZ Banking Group Ltd.
IPOs & Markets
Its board will meet on 20 July to explore fundraising options.
Other investors who joined the funding round include IDG Capital, Source Code Capital, Meituan-Dianping and GSR Venture.
The investment firm is said to be working with a financial adviser for due diligence on Suzlon.
The move could boost competition in the Brazilian banking sector, in which the country's top five banks hold 82% of total assets.
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