Mitsubishi to buy 20% in Shriram Fin for $4.4 billion

Group 1: Mitsubishi UFJ Financial Group and Shriram Finance - Mitsubishi UFJ Financial Group (MUFG) is set to invest over $4.4 billion (approximately Rs 40,000 crore) to acquire more than a 20% stake in Shriram Finance, with the deal expected to be finalized on Friday [2][4] - Shriram Finance's board will meet to consider raising funds through various methods, including a rights issue and preferential allotment of shares [2][4] - Currently, promoters hold a 25.4% stake in Shriram Finance, with the remainder held by the public, and the company's shares closed 1.8% higher at Rs 864 on BSE [2][4] Group 2: Mizuho Securities and Avendus - Mizuho Securities announced the acquisition of over 60% stake in Avendus from KKR affiliate Redpoint Investments, with the transaction estimated at around $525 million (Rs 4,700 crore) [2][4] - Avendus will continue to be led by its founders and maintain its brand identity while gaining access to Mizuho's scale and global reach [3][4] Group 3: General Trends in Indian Financial Services - The Indian financial services sector is attracting significant global interest, highlighted by Emirates NBD Bank's acquisition of 60% in RBL Bank through a $3 billion infusion [3][4] - Earlier in the year, Sumitomo Mitsui Banking Corporation acquired a 24.2% stake in Yes Bank, which included a 20% stake for $1.6 billion from domestic lenders [3][4]