Morning Buzz: SpiceJet shows interest to acquire Go First, SBI slows on unsecured loans, and more

Go First’s resolution professional Shailendra Ajmera received requests from three entities in the past 10 days to conduct due diligence. Image: Adnan Abidi/Reuters

SpiceJet shows interest  to acquire Go First

SpiceJet and two other entities, Skyone and Safari Investments have shown interest in acquiring Go First. This news came after the resolution professional received requests from these entities to do due diligence. The creditors have still to decide whether they will allow the due diligence to take place as the deadline has passed.
(Economic Times)

SBI slows on unsecured loans

State Bank of India (SBI)says it plans to focus on healthy growth and has slowed the growth in unsecured loans. According to its chairman unsecured loans were growing at 30-35 percent and the growth has now been slowed to 18 percent. According to him despite the increase in risk weights which would lead to a decline in the capital adequacy of banks growth would not be impacted as banks were well capitalised.
(Business Standard)

Ananya Birla to bring in PE money to fund Chaitanya buy

Svatantra Microfin, led by Ananya Birla, is in the process of bringing in PE money to fund its purchase of Chaitanya India Fin Credit. While it has spoken to several PE firms the talks with Multiples Alternate Asset Management have reached some level of finality. The deal is expected at Rs1,500 crore and this will be the largest transaction in the micro finance space post pandemic.
(BusinessLine)

Adani hits the road to pitch to investors

The Adani group has started pitching its companies to investors again after weathering the 2023 storm caused by the Hindenburg report. In a banquet hall in Pune’s Creaticity mall the group CFO Jugeshinder Singh as well as Jeet Adani pointed to the growth rates of their companies as well as the Rs70000 crore plus EBIDTA the company has generated in the first six months of this fiscal. The audience comprised of fund managers as well as high net worth retail investors from Mumbai and Pune.
(Mint)