Sale20 May 2025, 11:12 pm
Capital India Finance Ltd Receives RBI Approval for Sale of Material Subsidiary, Capital India Home Loans Limited
AI Summary
Capital India Finance Limited (CIFL) has received approval from the Reserve Bank of India (RBI) for the sale of its material subsidiary, Capital India Home Loans Limited (CIHL), to Weaver Services Private Limited. The sale is expected to be completed within six to eight months of the Share Purchase Agreement (SPA) execution date. The total consideration for the 100% equity shares of CIHL is INR 26,700 Lakhs, out of which CIFL will receive INR 26,652.71 Lakhs after applicable taxes. Weaver Services Private Limited is not part of the promoter/promoter group/group companies of CIFL. The transaction is not a related party transaction.
Key Highlights
- Capital India Finance Limited receives RBI approval for the sale of Capital India Home Loans Limited to Weaver Services Private Limited.
- The sale is expected to be completed within six to eight months of the Share Purchase Agreement execution.
- The total consideration for the 100% equity shares of CIHL is INR 26,700 Lakhs.
- Weaver Services Private Limited is not part of the promoter/promoter group/group companies of CIFL.
- The transaction is not a related party transaction.