Industrial Investment Trust (IITL) has entered into a share purchase agreement (SPA) with Pantaloon Retail (India) (PRIL) to purchase part of PRIL’s shareholding in Future Generali India Life Insurance Company (FGILICL) representing 22.5% of the equity share capital of FGILICL. The transaction is subject to the receipt of the necessary approvals from governmental and regulatory authorities, including the CCI, the IRDA and the RBI.
Post completion of the transaction, Future Group consisting of PRIL and Sprint Advisory Services shall continue to hold 52% shares in FGILICL with the other shareholders being Participatie Maatschappij Graafschap Holland NV (which is a subsidiary of Assicuranzioni Generali S.P.A) and IITL.
IITL is an investment Company duly registered as a non-banking financial Company (non deposit taking) with the Reserve Bank of India and is listed on the BSE and the National Stock Exchange of India.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 936.15 |
| Shriram Finance | 1047.45 |
| Aditya Birla Capital | 351.15 |
| Chola Invest & Fin. | 1568.35 |
| Tata Capital | 335.70 |
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