Comments
Bank of Baroda (BoB) on Wednesday said it has executed a Share Purchase Agreement for sale of its entire equity stake of 10 per cent in Equifax Credit Information Services Private Limited (ECIS) for about Rs 91 crore.
The indicative time period for completion of the transaction (sale of 1.35 crore equity shares of ECIS at Rs 67.43 apiece) is the January-March 2020 quarter, according to the public sector bank's stock exchange filing.
ECIS is a Credit Information Company (CIC) and provides various credit information services in accordance with the Credit Information Companies (Regulation) Act, 2005. It posted a net profit of Rs 11.87 crore on total income of Rs 50.83 crore in FY2019.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.