Blackstone to buy about 16% stake in IIFL Finance for ₹5,000 crore
In short
Blackstone is set to buy about a 16% stake in IIFL Finance for ₹5,000 crore. The issue will also include ₹1,264 crore from existing investors Nirmal Jain and R Venkataraman, and ₹150 crore from Anchorage Capital.
The reported funding would bring new money into IIFL Finance and add support from existing backers.
What the reporting says
Blackstone is set to buy about a 16% stake in IIFL Finance for ₹5,000 crore, according to a BusinessLine Money & Banking summary. The issue will also include a ₹1,264 crore investment by existing investors Nirmal Jain and R Venkataraman, while Anchorage Capital will invest another ₹150 crore. The reported deal points to fresh capital coming into the lender.
Why it matters
Blackstone is reported to be buying about a 16% stake in IIFL Finance for ₹5,000 crore, with additional investments from Nirmal Jain, R Venkataraman and Anchorage Capital. The transaction points to a large equity infusion into the lender and renewed investor support.