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Will “Bharat Financial Inclusion” Rise From the Ashes? Analysis of M&A and Emerging Issues

C. S. Balasubramaniam, Prabhat Varma, Hardeep Kaur

Abstract: Bharat Financial Inclusion Ltd. (erstwhile SKS Micro Finance) has been in talks of a merger with IndusInd Bank in an attempt to revive itself as a vertical of IndusInd, in the form of NBFC in September 2017. The deal is of a size and complexity that has not been seen for long time between the second largest microfinance company in the economy and IndusInd Bank, a leading private sector bank. BFIL has entered into an “exclusivity agreement with IndusInd Bank for due diligence and discussions to evaluate a potential strategic combination between the two organizations”. The shares of both the companies surged as the announcement of exclusivity agreement was made in the press. This case study is unfolded as follows: The first part would detail the history of BFIL and IndusInd Bank. Further discussion would dwell on the merger deal and the impact on stock markets. The potential benefits for the two would be laid out in the conclusion.
Keywords: merger / IndusInd Bank / Inclusion / BFIL / exclusivity agreement / Bharat Financial

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