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Share Market Highlights 2nd April 2024: Sensex, Nifty retreat after three-day rally; profit-taking dominates
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ASSOCHAM appoints former KKR India head Sanjay Nayar as President
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Axis Bank and Citigroup deal is likely to be announced shortly.New Delhi: Private sector lender Axis Bank is set to acquire Citigroup's retail banking
Nayar will assume the new role from December 31 this year. As chairman, Nayar will advise and assist KKR’s India business by leveraging his connections and experience across the country, KKR said in a release. Nayar set up KKR s India business in 2009 when he became the CEO. KKR has invested over $5.8 billion in PE investments and $10 billion across credit, infrastructure, and real estate since 2006. Under Nayar, KKR made one of the best returns in the industry. It made internal rate of return (IRR) of over 20 per cent in deals such as Dalmia Cement and Gland Pharma. It invested about $3 billion in companies such as Reliance Retail, Reliance Jio, etc. this year, the highest by any PE firm in 2020 in the country.
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