RBI data showed that reserves rose $1.2 billion in the week to November 24 to $400.742 billion.
Bank’s CEO says the insurer may get listed after 2 years, a good time for them to exit.
Usha Anathasubramanian that the pitch is ready for large-scale recovery of NPAs and a few big debt resolution stories would provide the desired momentum.
The deal will include direct purchase of stake as well as fresh infusion of capital, the person familiar with the matter said.
Post rights issue, CDC continued to be the largest shareholder with 14.14%.
ET looks at the laws in some of the countries that have fast-tracked bankruptcy resolution to see the differences and similarities with India’s insolvency regime.
Asian Development Bank-backed microfinance lender Satin Creditcare Network is in the process of raising Rs 205 crore from private sector IndusInd Bank, as well as from existing overseas shareholders.
The central bank has also told ARCs to do monthly valuation of the equity shares they acquire from sick units.
This may lead to more liquidation as external investors in general are not very keen to bid for smaller firms which typically lack corporate governance and internal controls.
The company, which is a part of Prague-based Home Credit Group, had raised Rs 87 crore earlier from the same set of investors by securitising two-wheeler loans.
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