Shivalik Small Finance Bank secures investment from SMBC Asia Rising Fund. The fund acquires a 4.99% stake for $7 million. Existing investors also participate in this round. The bank will use the funds for growth and technology enhancement. Shivalik is open to acquisitions for faster expansion. The bank aims for significant business growth this fiscal year.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets