New Delhi, Dec. 23 -- The Board of Directors of Shriram Finance Limited (SFL) at their meeting held on Monday approved entering into definitive agreements with Japan's premier bank MUFG Bank Ltd. for an investment of Rs 39,618 crore (USD 4.4 billion) in SFL through a preferential issuance of equity shares.
This investment will result in MUFG Bank acquiring a 20 per cent stake on a fully diluted basis.
This landmark transaction underscores SFL's status as India's second largest retail Non-Banking Financial Company (NBFC) [2] in terms of assets under management and represents a significant milestone for the Indian financial services industry on account of being the largest FDI in a financial services company in India.
The agreement would r...