Fullerton India has become a subsidiary of Sumitomo Mitsu Financial Group (SMFG) by following the completion of a transaction to purchase 74.9 per cent from Fullerton Financial Holdings (FFH). Fullerton India’s management team will continue to operate under the leadership of current Managing Director and Chief Executive Shantanu Mitra, the company said in a statement.

• Stocks Under F&O Ban
• Overnight Stock Market Movements: Key Developments 
• Adani Energy Solutions Wins Rs 8,500 Crore Power Transmission Project 
• US Keeps 10% Tariff on Indian Exports After Forced Labour Review
• Railways Commissions 142 Gati Shakti Cargo Terminals

As part of the transaction, Fullerton India’s Board will be reconstituted to comprise Nobuyuki Kawabata, Rajeev Veeravalli Kannan, Hong Ping Yeo, Anindo Mukherjee, Shantanu Mitra, Shirish Moreshwar Apte, Dr
Milan Robert Shuster and Ms Sudha Pillai.

In July 2021, Japan’s SMFG had signed a pact to purchase a 74.9 per cent stake in non-banking finance company Fullerton India Credit for about $ two billion.