Corporate Valuations - News ICICI Pru, ICICI Lombard buy 12% in Fino Paytech for Rs 150 crore



corporatevaluations.in : news

ICICI Pru, ICICI Lombard buy 12% in Fino Paytech for Rs 150 crore


Date: 11-January-2017

ICICI Prudential Life Insurance and general insurer ICICI Lombard have bought a 12% stake in fledgling payments bank Fino Paytech for Rs 150 crore valuing the company at Rs 1,200 crore The deal would lead to twin benefit of Fino Paytech moving towards meeting regulatory orders on foreign holding in the company, start payments bank licence and help the two insurers to sell their products in remote villages.The company, a few months ago, sold a 21% stake to oil marketing company Bharat PetroleumBSE 0.69 % for Rs 251 crore, which would make it offer services at more than 12,000 petrol pumps across the country

 
 
 
Our Offerings