MICROFINANCE ACQUISITION
The great Indian money hunt: Why India's shadow banks are pulling in billions of dollars
Blackstone is negotiating a significant investment in IIFL Finance, indicating rising global interest in non-bank lenders. Recent deals include investments by Carlyle and Advent International in housing finance firms. The demand for credit in India is growing, with NBFCs playing a crucial role in accessing underserved markets. Foreign investments in the financial sector have exceeded $20 billion since 2025, reflecting confidence in stability.
Up to 12,000% growth! 181 companies more than doubled profits in Q2 earnings boom for India Inc
India Inc witnessed a strong earnings recovery in Q2 FY27, with 181 companies more than doubling their net profits year-on-year, according to Ace Equity data. Gains spanned banking, metals, energy, pharmaceuticals and consumer sectors. From Indian Oil and JSW Steel to Paytm and Lenskart, here are the biggest profit gainers and what drove their growth.
IIFL Finance board to weigh Blackstone, Advent proposals for Rs 5,000 crore capital raise
IIFL Finance's board will consider separate investment proposals from Blackstone and Advent International for a nearly Rs 5,000 crore capital raise, as the lender also explores a potential transaction involving Fairfax's stake sale.
Bandhan Bank denies acquisition talks with First Abu Dhabi Bank
Bandhan Bank has denied reports of acquisition-related discussions with First Abu Dhabi Bank, calling its reference in a news report factually "incorrect". The lender said it was not involved in any such discussions or proposal.
CreditAccess Grameen Q2 profit jumps fourfold to Rs 502 crore
CreditAccess Grameen reported a fourfold rise in Q2 net profit to Rs 502 crore, driven by higher income, lower expenses and credit costs. Improved asset quality prompted upward revisions to profitability guidance, while assets under management grew 19.5%.
IIFL Finance plans to raise ₹2,500-5,000 crore by selling stake amid Fairfax exit rumors
IIFL Finance is intending to raise ₹2,500-5,000 crore by selling a minority stake. The company's promoters may subscribe to warrants to limit dilution. Fairfax Financial Holdings is likely to sell its stake due to regulatory norms. IIFL aims to enhance its capital position amid evolving market conditions. These measures are expected to create synergies for IIFL Capital as part of IDBI Bank.
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Bandhan Fin to explore health insurance foray post stabilisation of recent acquisitions: Chairman Ghosh
Bandhan Financial Services is exploring opportunities in the health insurance sector after recent acquisitions. The company intends to focus on consolidating its existing businesses before expanding further. Recent acquisitions include IDFC Mutual Fund and Aegon Life Insurance, which will need to be streamlined. A parliamentary panel has suggested introducing a composite insurance license for better market penetration. The group is also considering investment banking and wealth management opportunities.
IHC, First Abu Dhabi eye stake in Bandhan Bank promoter
Early investors GIC & IFC jointly hold 30% in Bandhan Financial Services (BFSL), keen to exit. PE funds tapped too to gauge strategic interest. BFSL, led by Bandhan founder Chandra Shekhar Ghosh, has been working with advisers Jefferies to find strategic investors for 25-32%.
Indian banks' names keep fading from your loan documents
The landscape of retail lending is shifting as non-bank lenders swiftly embrace smaller ticket personal and consumer durable loans. NBFCs and fintech firms are not just leading originations by both volume and value; they are redefining lending opportunities as the economy continues to develop. Banks are still integral, providing necessary funding to NBFCs and utilizing securitization, contributing to a dynamic credit ecosystem with expanded avenues for access.
Fairfax to exit IIFL Finance before likely IDBI Bank deal; Blackstone emerges as suitor
Fairfax Financial Holdings is considering selling its IIFL Finance stake. This move supports its planned acquisition of IDBI Bank Ltd. The Canadian firm is in talks with private equity firms for this potential sale. This transaction is part of a larger strategy for the Indian banking sector. The company aims to consolidate its Indian lending investments after the acquisition.
Muthoot Microfin case: Sebi exempts six family trusts from open offer obligation
Sebi has exempted six Muthoot family trusts from an open offer requirement. This exemption pertains to the indirect acquisition of shares in Muthoot Microfin. The restructuring involves multiple share transfers among family trusts and spouses. Muthoot Fincorp's board approved an IPO, necessitating transaction structure changes. The exemption is valid for one year and subject to reporting conditions.
Purple Finance to acquire Saksham Gram Credit for rural expansion
Purple Finance plans to acquire Saksham Gram Credit for rural market expansion. The company also secured equity funding of Rs 108 crore for growth. This acquisition will mark Purple Finance's entry into rural and semi-urban lending. Combined Assets Under Management are expected to reach approximately Rs 850 crore. The deal strengthens distribution networks and supports small finance bank aspirations.
'The real work starts now.' Ananya Birla announces Chaitanya India acquisition, remembers decade-long journey; Harsh Goenka says 'proud of my little girl'
The acquisition, valued at Rs 1,479 crore, positions Svatantra as the second-largest Non-Banking Financial Company-Microfinance Institution (NBFC-MFI) in India.
Svatantra Microfin completes acquisition of Chaitanya India Fin Credit
Svatantra Microfin has completed the acquisition of Navi Group's subsidiary, Chaitanya India Fin Credit, making it the second largest NBFC-MFI in India. The deal, valued at Rs 1,479 crore, was announced in August. The acquisition is positive for the microfinance sector and Svatantra, as it gives strategic outreach in South India.
AU Small Finance Bank to acquire Fincare Small Finance Bank in share deal
As per the agreement between the two, shareholders of Fincare Small Finance Bank shall receive 579 equity shares of AU Small Finance Bank for every 2,000 shares held. The merger would be effective from February 1, 2024, according to a regulatory filing to stock exchanges late Sunday.
AU Small Finance Bank plans microloan foray, open to acquisition
The management of AU believes that foraying into microfinance, which is essentially offering small loans to economically weaker and largely under-banked customers without collateral, is a natural extension of its business strategy.
Ananya Birla-founded Svatantra Microfin to acquire Sachin Bansal’s Chaitanya India Fin for Rs 1,479 cr
Svatantra Microfin Private Limited will be acquiring Sachin Bansal's Navi Group's subsidiary Chaitanya India Fin Credit Private Limited for Rs 1,479 crore. The deal is expected to be completed by the end of 2023, it said in a statement on Tuesday.
Kotak Mahindra to buy microfinance lender Sonata Finance for $65 million
The private sector bank will acquire 26.45 million equity shares of microfinance company Sonata, of face value 10 rupees each fully paid up, for a total consideration of approximately 5.37 billion rupees, the private lender said in an exchange filing
Northern Arc to acquire business of S.M.I.L.E. Microfinance to grow retail lending
The transaction will involve the takeover of the microfinance portfolio of S.M.I.L.E., along with its extensive network of nearly 150 branches catering to over two hundred thousand customers. Around 850 employees of S.M.I.L.E. will move to the rolls of the Northern Arc group.
Spandana Sphoorty rises 29% in 3 days on buzz Axis Bank may buy stake
Axis Bank is looking to strengthen its reach in the rural areas and acquiring a microfinance lender with greater range in rural areas is seen as a suitable acquisition.
Axis Bank explores MFI stake buy to expand into rural India
The talks have begun, three people familiar with the matter told ET. There's no certainty on which of the negotiations would conclude in a transaction.
Axis Bank evaluating the acquisition route to scale up microfinance business
Axis Bank managing director and chief executive Amitabh Chaudhry said the bank has studied the market but has not found a perfect match yet. "We are evaluating opportunities all the time," he said, adding that the microfinance firms, which are doing well and can be a good fit, are mostly overvalued. "Nothing is on the cards at present."
MFIs with Rs 3000 crore loans on Federal Bank radar for acquisition
Microfinance business has gained stability, setting aside the funding woes with banks backing micro lenders.
Warburg Pincus invests Rs 520 crore in Fusion Microfinance
PE major Warburg Pincus is in talks to acquire a significant minority stake in a Fusion Microfinance in a deal estimated at $80-100 million, ET reported on August 2.
Warburg Pincus in talks to invest up to $100m in Fusion Microfinance
Warburg will acquire stake in the New Delhi-based mid-sized non-banking financial company (NBFC) from existing investors along with a primary funding into the company.
Federal Bank looks to acquire Madura Microfinance
The deal is expected to be partly in share-swap, and partly in cash for the micro lender backed by private equity firm Elevar Equity Mauritius.
Inditrade Capital to buy 80% stake in Varam Capital for Rs 40 crore
The deal will include direct purchase of stake as well as fresh infusion of capital, the person familiar with the matter said.
Overweight on Kotak Mahindra Bank, target Rs 810 : Morgan Stanley
The BSS acquisition extends microfinance to poor rural and semi-urban women via JLG mechanism. With AUM of Rs 4.8bn, BSS MFI is the 25th largest NBFC-MFI in India
Kotak Mahindra Bank set to acquire BSS Microfin
BSS Microfinance is a non-banking financial company, classified as an NBFC-MFI. The transaction is subject to obtaining all necessary regulatory approvals.
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