INSUBCONTINENT EXCLUSIVE:
Tilden Park Capital Management has sounded out the Reserve Bank of India (RBI) for buying a sizeable stake in the private sector bank.
An
official of the New York-headquartered asset manager and senior members of LVB management recently met RBI to explore the possibility, the
report said.
The scrip soared 9.92 per cent to Rs 19.95, while the benchmark BSE Sensex was up over 400 points, or 1 per cent, at
41,384.
Tilden was introduced to LVB by Cantor Fitzgerald, the New York-based financial services firm where former Deutsche Bank co-CEO
majority- interest, the regulator as well as the investee bank have to do a detailed check of the background and credentials of the investor
Any investment of 5 per cent or more in a private bank requires prior approval of RBI.
Earlier, the scrip had scaled a 52-week high of Rs
97.35 on April 8, 2019 and 52-week low of Rs 13.35 on October 30 last year
