Blackstone will buy a 15.57% stake in Indian lender IIFL Finance for about $532 million
Summary
The investment is expected to lift IIFL's capital adequacy ratio to about 30% from roughly 17% on a pro forma basis as of September
Description from Quartz.
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Blackstone to invest ₹5,000 crore in IIFL Finance for 16% stake
Blackstone will invest ₹5,000 crore in IIFL Finance for a 16% stake on a fully diluted basis, giving the lender a stronger capital base to expand its secured lending business. The deal, part of a ₹6,414-crore fundraise, marks a major private equity bet on India's NBFC sector.
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Blackstone will buy a 15.57% stake in Indian lender IIFL Finance for about $532 million
The investment is expected to lift IIFL's capital adequacy ratio to about 30% from roughly 17% on a pro forma basis as of September
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