Mumbai: Financial services firm India Infoline Ltd said on Monday its board approved an investment of $76.7 million by Singapore-based Orient Global in its consumer finance arm India Infoline Investment Services Ltd.
It said Orient Global would acquire 22.5 per cent stake in the unit.
The funds would be utilised for expansion of the unit's subsidiaries Moneyline, which is in the business of personal, auto loans, and India Infoline Housing Finance, it said in a statement.
Shares in the firm rose 3.4 per cent to Rs 1,153.05 in Mumbai market.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment