New Delhi, Dec. 22 -- In one of the most significant foreign investments in India's financial services industry, MUFG Bank Ltd. has announced plans to invest Rs 39,618 crore (approximately USD 4.4 billion) in Shriram Finance Limited through a preferential issuance of equity shares.
The proposed transaction, approved by the Board of Directors of Shriram Finance at its meeting held on Monday will result in MUFG Bank acquiring a 20 per cent stake in the company on a fully diluted basis.
The landmark investment positions Shriram Finance at the centre of global investor confidence in India's lending and financial services ecosystem. It is being described as the largest foreign direct investment in an Indian financial services company to date a...