The NBFC said in a regulatory filing that a share purchase agreement dated November 22, 2019 was entered into between Muthoot Finance, IDBI Bank, IDBI Capital Markets & Securities, IDBI Asset Management and IDBI MF Trustee Company in relation to the proposal for acquisition of 100% equity shares subject to receipt of necessary regulatory approvals from Securities and Exchange Board of India and other relevant regulators.
The Kerala-based lender added that it has informed SEBI that it is unable to proceed with the proposed transaction.
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