Private equity fund, India Alternatives has announced a sale of partial stake – worth Rs 340 crore in Transunion Cibil to Khazanah Nasional Berhad.
The Malaysian sovereign wealth fund – Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company and began operations a year later.
Shivani Bhasin Sachdeva, founder and chief executive of IA, stated – ““Rapid digitization, the advent of new technology, and a clear shift in consumer behavior augur well for steady credit growth in India. TUCIBIL continues to be the preferred bureau for credit information and has been a valuable partner to India Alternatives. Having established itself as a one-stop provider of holistic credit information solutions to lenders, TUCIBIL is poised to take advantage of the continued upswing in credit. Given the Company’s stellar past performance, resilient business model and exemplary management, we are retaining a stake in TUCIBIL to be a part of this exciting journey forward.’’
India’s information and insights company, TransUnion CIBIL claims to provide a comprehensive picture of each person so they can be represented in the marketplace which will help businesses and consumers transact.
TransUnion CIBIL provides solutions that help create economic opportunity, experiences and personal empowerment for people in India. It serves the financial sector as well as MSMEs, corporate and individual consumers. Its customers in India include banks, financial institutions, NBFCs, housing finance companies, microfinance companies and insurance firms.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.