Blackstone to buy 16 percent stake in IIFL Finance
Blackstone agreed to acquire a 16 percent stake in Indian lender IIFL Finance for 50 billion rupees. The capital infusion will strengthen the balance sheet and support growth in secured lending.
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Blackstone Inc will acquire a 16% stake in IIFL Finance Ltd for 50 billion rupees ($535 million) in an Indian credit market expansion. The deal extends a wave of foreign investments into financial institutions across India's growing economy. Global firms are positioning themselves to capture rising domestic demand for retail and small business loans.
