Acquisition of 9% stake in Paisalo Digital Ltd

Acquisition of 9% stake in Paisalo Digital Ltd

Question : On December 24, 2020, SBI Life Insurance Company had purchased 3.8 million equity shares, representing 8.99 per cent equity of ‘Paisalo Digital Ltd’.In which sector this company belongs ?
(a)Non-banking financial company
(b)Agri commodities trading company
(c)Both (a) & (b)
(d)None of the above
Answer (a)
Related facts

  • SBI Life has recently(24 December 2020) acquired 9% stake in Paisalo Digital for Rs 186.20 cr.
  • Under this deal acquirer has purchased 3.8 million equity shares(at Rs 489.99 per share) via open market.

Paisalo Digital

  • Paisalo Digital Limited operates as a non-banking financial company. The Company offers personal and business loans, micro funding, and hire purchase financing services.
  • Paisalo Digital has a market capitalisation of Rs 2,204.69 crore as on December 24, 2020.

By — Pankaj Pandey.

Link:
https://economictimes.indiatimes.com/markets/stocks/news/sbi-life-acquires-9-stake-in-paisalo-digital-for-rs-186-20-cr/articleshow/79943767.cms