07-Nov-2026 00:43:48
KIRLOSENG : TPG TO INVEST UP TO RS 800 CR IN STEP-DOWN SUBSIDIARY ARKA FINCAP
• Board approved shareholders' agreement with TPG SG Arca Pte. Ltd., Arka Fincap (step-down subsidiary) and Arka Financial Holdings (wholly owned subsidiary) • TPG to subscribe to equity shares and compulsorily convertible preference shares of Arka Fincap in two tranches — ₹525 Cr upfront and ₹275 Cr subject to business milestones and regulatory approvals • KOEL's stake in Arka Fincap to fall to 68.587% fully diluted after tranche one and 62.607% after tranche two, from 90.279% now • Arka Fincap has AUM of ~₹8,000 Cr, secured retail portfolio above ₹1,000 Cr, 146 branches across ten states and CRISIL AA/Stable rating • SHA gives TPG one nominee director, minority protection and exit rights; no impact on management or control of KOEL • KOEL agrees group NBFC lending will be run exclusively through Arka Fincap, with transfer restrictions on its stake
Kirloskar Oil Engines Ltd
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