BharatPe to Sell 25 Stake in Unity Small Finance Bank
India’s leading fintech company BharatPe is planning to sell up to 25% of its 49% stake in Unity Small Finance Bank (Unity Bank). The move is aimed at raising around $800 million (approximately Rs 6,500 crore) and is part of the company’s plan to meet RBI’s regulatory requirements. BharatPe, a major player in the digital payments and financial services sector, has appointed Rothschild & Co to oversee the stake sale.
Summary/Static | Details |
Why in the news? | BharatPe to Sell 25% Stake in Unity Small Finance Bank |
Stake Sale | 25% of BharatPe’s 49% stake in Unity Small Finance Bank |
Estimated Funds Raised | $800 million (approximately Rs 6,500 crore) |
Reason for Sale | To meet RBI’s regulatory requirement to reduce stake to 10% by 2029 |
Consultant | Rothschild & Co |
Key Achievement | Acquired PMC Bank |
Profit (Q2 FY24) | Rs 187 crore (up from Rs 138 crore last year) |
Total Income Growth | 77%, reaching Rs 640 crore |
Business Model | Digital-first banking model |
Major Investors | Tiger Global, Sequoia Capital (Peak 15 Partners), Dragoneer Investment Group, Insight Partners |
BharatPe’s Plan | Use funds to expand financial services and launch new products |
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