BANKING

Oman India Joint Investment Fund exits Kotak Mahindra Bank

March 20, 2017 | Bruhadeeswaran R

Private equity fund Oman India Joint Investment Fund (OIJIF) has sold its stake in Kotak Mahindra Bank Ltd, netting over Rs 120 crore (around $18.5 million), according to a media report.

Exclusive: DMI Finance hits last lap to raise capital for fintech arm

March 17, 2017 | Bruhadeeswaran R

Non-banking finance company DMI Finance Pvt. Ltd is in the final stages of talks to raise a fresh round of equity capital to roll out its digital lending arm, a top executive told VCCircle. 

Exclusive: Norwest scores another multi-bagger exit from Indian private lender

March 15, 2017 | Joseph Rai

Multi-stage private equity investor Norwest Venture Partners has sold its entire stake in a public-listed financial services firm—the third such portfolio company in India within a year—minting gold from yet another private lender in the country.

IndusInd Bank to acquire IL&FS Securities

March 15, 2017 | Bruhadeeswaran R

Hindujas-promoted private lender IndusInd Bank has set the ball rolling to acquire IL&FS Securities Services Ltd (ISSL) for an undisclosed amount.

ChrysCapital takes out principal investment from Karur Vysya Bank

March 14, 2017 | Debjyoti Roy

Home-grown private equity firm ChrysCapital, which raised its seventh fund last month, has sold another chunk of its shares in one of its financial services portfolio firm.

GIC picks up 13.45% stake in Can Fin Homes for $113 mn

March 10, 2017 | TEAM VCC

Singapore’s sovereign wealth fund GIC Pte Ltd has bought a 13.45% stake in mortgage lender Can Fin Homes Ltd from state-run Canara Bank for Rs 753.77 crore ($113 million).

Why the SBI merger may accelerate consolidation in India’s banking sector

March 10, 2017 | Aman Malik & Keshav Sunkara

Come April, India will be home to one of the largest banks in the world. The merger of the government-owned State Bank of India (SBI) with its five associate banks will create a behemoth that will be among the top 50 global banks.

Kotak sells $338 mn stake to CDPQ, CPPIB

March 08, 2017 | Ranjani Raghavan

Billionaire Uday Kotak has sold about a 1.5% stake in Kotak Mahindra Bank Ltd to Caisse de Depot et Placement du Quebec (CDPQ) and CPP Investment Board (CPPIB) for about Rs 2,254 crore ($338 million).

Exclusive: True North-backed small finance bank licensee Fincare gets new PE investors

March 06, 2017 | Ranjani Raghavan & Bruhadeeswaran R

At least three private equity firms have invested in Fincare Business Services Pvt. Ltd as its flagship business Disha Microfin Pvt. Ltd looks to start small finance banking operations in the first half of this year, two persons close to the development told VCCircle.  

RBL Bank is financial services company of the year: VCCircle Awards

March 02, 2017 | Bruhadeeswaran R

RBL Bank Ltd has witnessed a complete transformation over the past seven years since the new management took over the operations of the erstwhile Ratnakar Bank Ltd in 2009-10.

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