TransUnion to buy 27.5% more in CIBIL
By Vaibhav Aggarwal
Jun 10, 2009
Print    Email    RSS   

TransUnion is set close to acquiring another 27.51 percent stake for Rs 350 crores, from a clutch of CIBIL's existing shareholders.

The stake purchase will raise the holdings of TransUnion in CIBIL to a 47.5 percent from the existing 20 percent.

The company will acquire a 5 percent stake each from HDFC, ICICI, IOB, PNB and SBI. It would buy another 2.5 percent from GE Strategic Investments and 0.01% from Dun & Bradstreet Information Services.

The company is awaiting the final approval from the Foreign Investment Promotion Board's (FIPB). The acquisition will enable TransUnion to expand its business in India.

FIPB is a specially empowered body, setup by the government of India and empowered under the office of the Prime Minister to monitor foreign investment proposals. According to the norms set by the board, credit information companies in India can attract foreign direct investment only up to 49% with a prior approval of the union and requisite regulatory clearance from the central bank.

Incorporated in 2000, CIBIL was originally promoted by SBI, HDFC, D&B and TransUnion in 40:40:10:10 stakeholding ratios. The company provides credit information of commercial and retail borrowers to serve the needs of banks, financial institutions, non-banking financial companies, housing finance companies and credit card companies.

Recently, CIBIL in association with TransUnion launched the ‘CIBIL TransUnion Personal Loan Score', a software that helps in estimating creditworthiness of individuals before extending loan to them.

TransUnion is a privately held, US based is consumer credit reporting agency. The agency, headquartered in Chicago, has a global presence and provides credit-monitoring solutions to more than 50,000 business clients worldwide.

Dun & Bradstreet Information Services India Pvt. Ltd., started its operations in India in 1995. The comapny offers various solutions and services like risk management, financial education, sales and marketing, data management, research and advisory; etc.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

J&K Bank raises PLR
An Insight into Lending Rate Changes
Winning in Emerging Markets by Tarun...
How far can new banking licenses be banked...
LAP or personal loan: Which one to choose?

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive