IL&FS liquidity crisis forces Rana Kapoor's family to sell 6-year-old mortgage unit

IL&FS liquidity crisis forces Rana Kapoor's family to sell 6-year-old mortgage unit

The Kapoor family office is in talks with Tokyo-based Nomura Holdings, but the deliberations are in early stage and there is no guarantee that they will translate into a transaction

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The Kapoor family office is run by three daughters of Yes Bank co-founder Rana Kapoor.The Kapoor family office is run by three daughters of Yes Bank co-founder Rana Kapoor.
BusinessToday.In
  • Jun 24, 2019,
  • Updated Jun 24, 2019 6:40 PM IST

The family of veteran banker Rana Kapoor is planning to sell their six-year-old mortgage finance company, reports suggest. Kapoor's family office is looking for interested parties to sell majority stock in the mortgage unit as rising prudence in credit market is eating into growth prospects of shadow finance firms, Bloomberg reported.

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The fund, named The Three Sisters: Institutional Office, was founded by Rana Kapoor's eldest daughter Radha Kapoor Khanna in 2013. The family office of the Yes Bank co-founder is in talks with Tokyo-based Nomura Holdings Inc for a potential stake sale, the report added. The family office has also reached out to several other private equity firms with the proposal, the report further added.

SBI never stopped lending to NBFCs, will continue to do so, says MD Arijit Basu

(Edited by Vivek Punj)

The family of veteran banker Rana Kapoor is planning to sell their six-year-old mortgage finance company, reports suggest. Kapoor's family office is looking for interested parties to sell majority stock in the mortgage unit as rising prudence in credit market is eating into growth prospects of shadow finance firms, Bloomberg reported.

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The fund, named The Three Sisters: Institutional Office, was founded by Rana Kapoor's eldest daughter Radha Kapoor Khanna in 2013. The family office of the Yes Bank co-founder is in talks with Tokyo-based Nomura Holdings Inc for a potential stake sale, the report added. The family office has also reached out to several other private equity firms with the proposal, the report further added.

SBI never stopped lending to NBFCs, will continue to do so, says MD Arijit Basu

(Edited by Vivek Punj)

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