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Manipal Group Chairman Ranjan Pai?s investment office Claypond Capital and private sector lender Axis Bank Limited are in talks to invest in gold loan startup Rupeek , according to sources aware of...
Claypond Capital, Axis Bank, and new investors plan to invest in Rupeek at a reduced valuation. Investment details are being finalized, with existing investors also considering selling shares. Rupeek previously raised funds from 360 One at a significant discount.
Happy Friday! Azim Premjis family office is eyeing a majority stake in Bank of Baroda-owned Nainital Bank. This and more in todays packed edition of ETtech Morning Dispatch.
RBI cautions banks on gold loan disbursement concerns through fintechs like Rupeek, IndiaGold, and Oro Money. Banks evaluating next steps post IIFL Finance issue. Asset quality improved at Rupeek, with partnerships with Federal Bank, Indian Bank, and South Indian Bank.
Rupeek saw its total revenue climb to INR 132.4 Cr in FY21, a 49% jump from INR 88.5 Cr it had generated in the FY21