International Finance Corporation (IFC), the private sector funding arm of World Bank, is in talks with Angel Broking group to pick up a minority stake in its holding company.
The group is in advanced discussions with four global investors and IFC is one of them. “We expect to finalise an investor soon,” said Angel Chairman and Managing Director Dinesh Thakkar.
The new investor will be issued fresh equity in Angel Infin Private, a holding company of group. Angel expects to raise Rs 150 crore from the investors to fund its retail expansion, taking its branches from 80 to 260 in smaller cities.
The multilateral agency discloses the investment proposal as part of its efforts to enhance the transparency of its activities. IFC said the proposed investment will help Angel introduce new products to serve its clients more effectively.
Read more in The Business Standard article.
No comments:
Post a Comment