SMBC Asia Rising Fund, a corporate venture capital vehicle co-founded by Japan’s Sumitomo Mitsui Banking Corporation, has acquired a 4.99% stake in Shivalik Small Finance Bank. The $7 million (around ₹60 crore) investment values the lender at about ₹1,200 crore, according to managing director and CEO Anshul Swami. Shivalik SFB is the only small finance bank in India to have transitioned from a cooperative bank.
Comments
Post a Comment