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Idea Payments Bank to Sell 15% to 20% Equity
April 24, 2018
Aditya Birla Group which owns the Idea Payments Bank is going to sell 15-20% equity in the same at a valuation of Rs. 1,000 crores, thus expecting to raise around Rs. 200 crores.
The funds will be used for the expansion of the bank’s business operations.
Idea Payments Bank is a joint venture of Aditya Birla Nuvo and Idea Cellular which own 49% and 51% stake in it respectively. It’s currently the second largest mobile operator-owned payments bank in India.
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