Premji Invest, the family office of Wipro founder Azim Premji, is in advanced talks to acquire a majority stake in Nainital Bank, which is a subsidiary of the publicly owned Bank of Baroda, three people aware of the discussions said. The proposed investment is likely to value the Uttarakhand-based lender at around Rs 800 crore, they added.“Premji Invest has signed a term sheet and the due diligence process is over. However, the final decision is yet to be made on the acquisition,” according to... Read this story
