Other Private Equity/Strategic Investments

M&M picks up 3.5% stake in RBL Bank for Rs.417-Cr; eyes 9.9% stake

Business Standard  

Publicly listed, Mumbai-based conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53% stake in publicly listed RBL Bank for INR 417 crore. M&M may consider further investment to take its stake up to 9.9 %. While Reserve Bank of India (RBI) norms cap non-promoter shareholding in a bank at 10%, non-promoters need approval from the RBI to increase their stake to 5% or more.

Want to receive such news items in your inbox? Click Here to sign up for a trial.

2021 © TSJ Media Pvt Ltd. All rights reserved.