Financial Sector

The license, which is still being reviewed by the finance ministry, will remove the biggest impediment to the entity.

As of June 30, 2024, Mahindra & Mahindra Financial Services had a healthy liquidity position with a balance sheet totaling over ₹8,000 Crore.

Manappuram Finance's shares have increased by more than 74% since its 52-week low of ₹122.7 on July 14, 2023.

According to reports, the base size of the QIP suggests an 8.5% dilution of the company's ownership, while exercising the upside option would boost the dilution to around 10.65%.

At the end of the March quarter, Asia Asia Opportunities V held a 9.88% stake in the company, while General Atlantic Singapore Fund held 9.22%.

BNP Paribas Financial SNC will partner with Bain Capital on this transaction. According to sources, the deal is valued at ₹1,500 Crore as a base price.

As of March 31, this year, the mortgage lender manages assets of up to ₹91,370 Crore, making it an upper-layer NBFC.

HDFC AMC has selected June 18, 2024, as the record date for this dividend payout. The dividend will be paid to qualified shareholders on or before June 30, 2024.

Mahindra & Mahindra Financial Services recorded a net profit of ₹619 Crore in Q4FY24, a 9.5% decrease from the previous year's ₹684 Crore.

This investment intends to assist ABHFL's growth and financial requirements while also improving its leverage ratio.