Manipal Tech, India’s biggest banking & wise cards maker, aims to raise Rs 1,000 cr

Synopsis Initially, this proposed deal will offer an exit to a couple of minority investors – member of the family who own about 20% stake in the moms and dad business MTL. The secondary stake sale, about 5-10% main shareholding will be offered to fulfill growth strategies, sources conscious of the effort informed ET.ETtechRepresentative ImageMumbai: Manipal Technologies (MTL), the biggest maker of banking and clever cards in India, prepares to bring in a monetary partner into the eight-decade-old, Pai family-owned service at an appraisal of around 4,000-4,200 crore ($500 million), numerous individuals mindful of the effort informed ET. The Pai household is looking for to raise about 1,000 crore ($100-125 million) for the Manipal Group company that started as the back workplace of Syndicate Bank in 1941. Empower Your Corporate Journey with Strategic Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitUniversity of Western AustraliaUWA Global MBAVisitInitially, this proposed deal will provide an exit to a couple of minority investors – relative who own about 20% stake in the moms and dad business MTL. The secondary stake sale, about 5-10% main shareholding will be offered to fulfill growth strategies, sources mindful of the effort informed ET. Financial investment bank Rothschild is mandated to run the stake sale procedure. A couple of personal equity funds have actually been sounded out, too, stated sources. MTL remains in business of printing, assisting in safe deals, marketing, branding and interaction for consumer-oriented markets such as retail banking, telecom, education, publishing, durable goods and retail, monetary services, air travel and transportation. It likewise manages federal government company. MTL has an experience of more than twenty years in the secur
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