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Jul, 03 2018

Manappuram Finance to acquire 85% stake in Indian School Finance company

Hyderabad-based ISFC is a non-banking financial company that lends mainly to the education sector.

Manappuram Finance Ltd said on Wednesday it has agreed to acquire an 85.39% stake in Indian School Finance Company Pvt. Ltd (ISFC) for Rs 212.20 crore.

Hyderabad-based ISFC is a non-banking financial company that lends mainly to the education sector.

The transaction is subject to approval of the Reserve Bank of India and other customary conditions precedent, Manappuram Finance said in a stock-exchange filing.

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