Yubi is a digital platform that connects lenders with prospective borrowers.
Interest paid on this loan will be 9%.
The bad loan portfolio is worth Rs 880 crore.
SBI had received this amount in 2017-18.
The valuation of the company was estimated to be up to $3 billion.
The 3 entities that will be merged in it are L&T Finance Limited, L&T Infra Credit Limited, and L&T Mutual Fund Trustee Limited.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Acquisition done for Rs 18.45 crore.
The IPO size has been reduced from Rs 1600 crore to Rs 1200 crore.
Vedanta is the parent company of Hindustan Zinc.