trending Market Intelligence /marketintelligence/en/news-insights/trending/rexpp3igi2k_jxbqtmuf6g2 content esgSubNav
In This List

Manappuram Finance to acquire nonbanking finance company

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Manappuram Finance to acquire nonbanking finance company

Manappuram Finance Ltd. agreed to acquire an 85.39% stake in nonbanking finance company Indian School Finance Co. Pvt. Ltd. for an aggregate price of 2.12 billion rupees.

Indian School Finance extends loans to affordable educational institutions. The company said the acquisition will be a key growth driver as Indian School Finance is in a niche sector and the business is scalable and profitable, according to a July 3 release.

The company expects to complete the acquisition in eight months' time.

As of July 2, US$1 was equivalent to 68.72 Indian rupees.