Name the India's Non Banking Financial Company which will acquire up to 58.2% stake in Sri Lanka's Ideal Finance for LKR 2 billion.

  • 1L&T Finance
  • 2Aditya Birla Finance Limited
  • 3Bajaj Finserv
  • 4Mahindra & Mahindra Financial Services
Answer:- 4

Rural NBFC (Non Banking Financial Company) Mahindra & Mahindra Financial Services Ltd has signed a joint venture (JV) with Ideal Finance Ltd (IFL), a subsidiary of the leading Sri Lankan conglomerate, Ideal Group, for the acquisition of up to 58.2 % stake in the Ideal Finance for LKR-(Sri Lankan Rupees) 2 billion (nearly Rs 80 crore). Mahindra Finance will invest LKR 2 billion till March 2021 to acquire the stake. The joint venture with Ideal Finance will create a market-leading financial services business in Sri Lanka for Mahindra.

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