Money & Banking

SBI Life Insurance acquires 8.99% stake in Paisalo Digital

Our Bureau Mumbai | Updated on December 24, 2020

It has purchased 38 lakh equity shares of the company at ₹489.99 apiece for a consideration of ₹186.20 crore.

SBI Life Insurance on Thursday said it had acquired 8.99 per cent stake in Paisalo Digital.

The transaction was for cash consideration of about ₹186.20 crore, it said in a regulatory filing.

It has purchased 38 lakh equity shares of the company at ₹489.99 apiece, it further said, adding that the purchase was done in the normal course of business.

“The purchase transaction was undertaken on December 24, 2020,” SBI Life Insurance said.

Paisalo Digital is a non-banking finance company NBFC providing loans to individuals, micro, small and medium enterprises, and to Joint Liability Group (MFI). It has 129 branches across the country.

Published on December 24, 2020

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