Quartz·1 min read·medium
Blackstone will buy a 15.57% stake in Indian lender IIFL Finance for about $532 million
✦AI Summary
Blackstone has agreed to acquire a 15.57% stake in the Indian financial services firm IIFL Finance for approximately $532 million. This capital infusion is projected to significantly boost the lender's capital adequacy ratio from 17% to 30%.
Why it matters
This major investment signals continued foreign institutional confidence in the Indian financial sector's growth and stability.
The investment is expected to lift IIFL's capital adequacy ratio to about…
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