Shivalik Small Bank Nears Deal with ManiBhavnam Home Finance
KOLKATA: Shivalik Small Finance Bank, supported by Japan’s largest lender, Sumitomo Mitsui Banking Corporation (SMBC), is nearing completion of its acquisition of Delhi-based ManiBhavnam Home Finance for ₹109 crore. The Reserve Bank of India (RBI) has approved this acquisition, with Shivalik currently seeking clearance from the Registrar of Companies. The deal will involve both share swaps and a cash component, according to sources familiar with the situation. “The acquisition aims to enhance Shivalik’s footprint in the affordable housing sector, further financial inclusion efforts, broaden secured lending, and extend geographical reach in North India,” a bank spokesperson stated. Over the past…