For cash consideration of Rs 48.63 crore and equity capital infusion of Rs 63 crore
Manappuram Finance has concluded the takeover of Asirvad Micro Finance, Chennai on 12 February 2015. The Company will hold 84.98% of the expanded equity capital of Asirvad Micro Finance.The Company has acquired about 71.14% of the fully diluted equity capital of the company at cost of Rs 48.63 crore in an all cash transaction.
The Company will further infuse about Rs 63 crore in to Asirvad as equity capital taking the total stake to 84.98% of the enlarged and fully diluted equity capital of its new subsidiary.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app