On a standalone basis, the bank’s profit after tax jumped 18.5% to Rs12,259.50 crore in Q3FY23.
The company stated in its exchange filing that it has entered into revised agreements with Max Financial on January 9, 2023.
The company has agreed to pay Rs1.10 crore total consideration for the sale of 2,12,121 equity shares.
Shriram AMC is a subsidiary of the Shriram Group, a financial conglomerate with assets worth over Rs 2.25 lakh crore.
The Assets Under Management (AUM) in UP currently stand at Rs10,770 crore.
The appointment is conditional on Ramamurthy accepting the offer.
According to Bajaj Finance's quarterly business update, AUM (assets under management) growth has moderated to 27% year on year.
Mahindra Finance may be able to continue recovery or repossession efforts through its own employees.
The rating on the short-term debt/ commercial paper programme of the company has been reaffirmed at ‘IND A1+’.
The Executive Committee of the Central Board Meeting started at 10.30 AM and ended at 01.45 PM on January 3, 2023.
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