Premji Invest in talks to pick up big stake in Bank of Baroda’s Nainital Bank

Premji Invest, the family office of Wipro founder Azim Premji, is in advanced talks to acquire a majority stake in Nainital Bank, which is a subsidiary of the publicly owned Bank of Baroda, three people aware of the discussions said.

The proposed investment is likely to value the Uttarakhand-based lender at around Rs 800 crore, they added.