Reliance Jio and Piramal Group may set up a joint venture for consumer lending, fintech business

Billionaire and maverick investor Ajay Piramal’s flagship company Piramal Enterprises is on the verge of finalising a massive Rs 9600 cr capital infusion deal with Softbank and one more party. ET Now has learnt this from several investment banking sources and lawyers working on the transaction. It was not possible to however to ascertain the name of the second party that will be infusing capital into the Piramal Group.

The capital infusion in Piramal Enterprises is likely to be in two tranches, and will be announced shortly. ET Now learns the top team of Masayoshi Son-led Softbank has been camped at the Piramal headquarters for nearly 10 days now to finalise the transaction.