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The bank is also looking to aggressively grow its co-lending book. It has already onboarded four NBFCs for co-lending to MSMEs which include UGro Capital, Adani Capital and Electronica.

The consortium of investors participating along with Multiples include institutional investors such as the investment arm of Times Group, QRG Invest (Havells Family Office), and high networth individuals Nishant Agarwal of Avighna Group, and Mallika Srinivasan of TAFE.

The NCLT had questioned the financial health of the Cayman Islands-based Almas Global Opportunity Fund SPC (AGOF), majority stakeholder in Star9 Mobility Pvt Ltd, the winning bidder for Pawan Hans.

Tax department officials told ET that the deal was unlikely to face capital gains tax if Holcim had acquired the stakes before 2017, when India and Mauritius renegotiated their bilateral tax treaty and withdrew the capital gains tax exemption available to investments from the island nation.

Recently, rival exchange Coinbase went through a bitter experience after launching its India operations with a bang, as it had to soon suspend buy orders due to payment issues with the county’s Unified Payments Interface (UPI).

“The ruling has effectively reaffirmed regulatory sanctity for NBFCs registered with the RBI as a separate category of lenders, distinct from the traditional moneylenders,” said Krishnan Sitaraman, Senior Director, CRISIL Ratings.

The Nasdaq declined 1.20% to 11,662.79 points, while Dow Jones Industrial Average rose 0.08% to 32,223.42 points.

Berkshire also finally exited Wells Fargo & Co, a 33-year-old investment that Buffett soured on after finding it too slow to address revelations that employees had mistreated customers, including by opening unwanted accounts.

In the grey market, LIC shares were trading at a discount of nearly 15 rupees compared with a premium of nearly 100 rupees earlier this month.

Nifty50 snapped a six-day losing streak but formed an indecisive Bullish Harami candle on the daily chart. Analysts said the recent selling pressure seems to have halted and that a close above the 15,900-16,000 level could send signs of a rebound ahead.