TransUnion is set close to acquiring another 27.51 percent stake for Rs 350 crores, from a clutch of CIBIL's existing shareholders.

The stake purchase will raise the holdings of TransUnion in CIBIL to a 47.5 percent from the existing 20 percent.

The company will acquire a 5 percent stake each from HDFC, ICICI, IOB, PNB and SBI. It would buy another 2.5 percent from GE Strategic Investments and 0.01% from Dun & Bradstreet Information Services.

The company is awaiting the final approval from the Foreign Investment Promotion Board's (FIPB). The acquisition will enable TransUnion to expand its business in India.

FIPB is a specially empowered body, setup by the government of India and empowered under the office of the Prime Minister to monitor foreign investment proposals. According to the norms set by the board, credit information companies in India can attract foreign direct investment only up to 49% with a prior approval of the union and requisite regulatory clearance from the central bank.

Incorporated in 2000, CIBIL was originally promoted by SBI, HDFC, D&B and TransUnion in 40:40:10:10 stakeholding ratios. The company provides credit information of commercial and retail borrowers to serve the needs of banks, financial institutions, non-banking financial companies, housing finance companies and credit card companies.

Recently, CIBIL in association with TransUnion launched the ‘CIBIL TransUnion Personal Loan Score', a software that helps in estimating creditworthiness of individuals before extending loan to them.

TransUnion is a privately held, US based is consumer credit reporting agency. The agency, headquartered in Chicago, has a global presence and provides credit-monitoring solutions to more than 50,000 business clients worldwide.

Dun & Bradstreet Information Services India Pvt. Ltd., started its operations in India in 1995. The comapny offers various solutions and services like risk management, financial education, sales and marketing, data management, research and advisory; etc.