Hinduja Group made the second-highest offer, of Rs 8,110 crore, for the core investment company that houses 20 financial services entities, ranging from insurance to broking, the people said.
Hinduja Group made the second-highest offer, of Rs 8,110 crore, for the core investment company that houses 20 financial services entities, ranging from insurance to broking, the people said.
The company said it expects to significantly step up its focus on connecting more entrepreneurs in the EVs, climate-tech, and other green tech solutions with equity-free funding options. Founded in 2019 by Bhavik Vasa and Amit Srivastava, GetVantage has a portfolio of over 400 new-age businesses while diversifying into more sectors this year including B2B SaaS and cleantech.
"This is of vital importance to retirees in their twilight years. The potential buyers / investors should be made aware that pension and the VHS will have to continue as and when they take over the bank," said Sanat Chakraborty, vice president IDBI Elders Forum.
Mail sent to Hinduja Group did not elicit response till filing of the story. Earlier this week, the Ahmedabad-based Torrent group emerged the highest bidder by putting a bid of Rs 8,640 crore to acquire Anil Ambani group's NBFC entity.
The winning bidder, Swan Energy - Hazel Mercantile team, offered a staggered payment of ₹2,040 crore, while on the net present value (NPV) basis it was ₹1,218 crore. Of the ₹2,040 crore offered by the duo, a sum of ₹1,640 crore will be paid over the next five years, and the remaining payment will be made from the recovery of certain pending dues. Naveen Jindal owned Jindal Steel and Power was also in the fray to acquire RNEL.
Torrent sent a protest to administrator Nageswara Rao Y, condemning the attempt to overturn the bidding process. "One of the resolution applicants, in utter disregard to the sanctity of the challenge process, has sought to revise the bid amount quoted by it during the challenge mechanism process, in an attempt to illegally enhance its bid amount beyond the permissible time period," it said in a note.
The Aon analysis also showed that overall attrition in the banking segment is 24.7% between January and September, with domestic banks showing 30.6% attrition and foreign banks 16.3%. Fintech players also contributed to high attrition levels of 27.4%. Wealth management players, too, saw a significantly high number of employee departures at 26.4%, while investment banks saw exits at 21.8%. The lowest exits in the BFSI space were recorded with asset management companies at 16.3%.
RFL, an NBFC arm of Religare Enterprises Ltd, owed about Rs 5,300 crore to the consortium of lenders led by State Bank of India (SBI). As part of the proposed OTS, the company in June 2022 deposited Rs 220 crore earnest money with the lead lender demonstrating its commitment towards RFL revival.
With India's digitalisation picking up pace, the UPI transactions in the nation registered a robust growth. A growth of nearly 25 per cent and 14 per cent in value and volume, respectively, were recorded in assisted financial transactions across semi-urban and rural retail counters in the country in 2022.