Sundaram Finance Ltd to Acquire Capitalgate Investment Advisors Private Limited

Sundaram Finance Ltd has granted an in-principle approval for the proposed acquisition of Capitalgate Investment Advisors Private Limited by Sundaram Alternate Assets Limited, a wholly-owned subsidiary of Sundaram Asset Management Company Limited. The acquisition is expected to be completed within a month, with a cash consideration of INR 35 crore (approximately USD 4.6 million). Capitalgate Investment Advisors Private Limited is a research services company that performs credit research on listed fixed income securities, and the acquisition is expected to enhance Sundaram Finance's funds business.