Through the deal, Intec Capital will get 17.5 per cent stake in the NBFC business of Essel Finance.
"Post this acquisition, we will cross loan portfolio of Rs 500 crore and have a large pan-India customer base. The banking relationship of loan portfolio will help us in faster growth," Essel Finance managing director Amitabh Chaturvedi said in a statement here.
EFBL will also acquire Rs 180 crore of the bank liabilities of Intec Capital.
The transaction is expected to be completed after concurrence from the bank and regulatory authorities, the company said.
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