Yubi is a digital platform that connects lenders with prospective borrowers.
Interest paid on this loan will be 9%.
Acquisition done for Rs 22.76 crore.
The bad loan portfolio is worth Rs 880 crore.
SBI had received this amount in 2017-18.
The company has acquired turnkey contracts for the development of more than 365 kilometers of 765kV double-circuit transmission lines.
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.
The BoE's nine rate-setters voted 7-2 to raise the Bank Rate by 25 basis points, to 4.25%, sounding more optimistic about the outlook for the modest rate of economic development in the nation.
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."