Bajaj Allianz picks 2.5% stake in SKS Microfin

Bajaj Allianz, one of India s leading insurer offering general and life insurance products, has announced a strategic investment of Rs 50 crore ($10 million) in SKS Microfinance. The equity deal claimed to be the first-ever investment by an insurance company in an Indian microfinance institution (MFI) signals an important step in the evolution of SKS Microfinance. While the company officials were tightlipped over the exact stake acquisition by Bajaj Allianz, market sources said that it will be around 2.5% stake and the deal took place a month back. SKS Microfinance raised over Rs 700 crore till date from leading domestic ...

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