Fairfax-backed IIFL Finance to raise $152 mn via share sale amid ban on gold loans
India's IIFL Finance will raise 12.72 billion rupees ($152 million) by selling shares, the non-bank lender said on Wednesday, aiming to shore up capital a month after the central bank barred it from offering gold loans. In mid-March, IIFL had said it would raise up to 15 billion rupees via a ......
Convergent Finance onboards ex-Wabi exec to bolster food & beverage portfolio
Homegrown private equity player Convergent Finance LLP, a backer of Indian names like Hindustan Foods, Jagsonpal, Agilitas, ADF Foods, Camlin Fine Sciences, Onward Tech and Fly91, has roped in a former Wabi Capital executive on its team. The PE firm, led by industry veteran and former Fairfax executive Harsha Raghavan, has ......
VC-backed Aye Finance set to secure $30 mn in fresh capital
Aye Finance, a non-banking finance company (NBFC), is set to raise $30 million (about Rs 250 crore) in fresh capital from a marquee foreign institution that has backed it in the past. The NBFC, which lends to micro, small and medium sector enterprises (MSME) in India, is raising the fresh capital ......
Pune-based lender Altum Credo snags $40 mn in Series C round
Affordable housing lender Altum Credo has secured $40 million in a Series C round, led by new investors Z3 Partners, Oikocredit as well as UK’s DFI British International Investment. Existing backers also participated in the round. The transaction was a mix of primary ($27 million) and secondary where some existing backers ......
Sanad gets LP top-up for MENA-focused MSME debt fund
The Sanad Fund for MSME, an impact investment fund that provides loans and equity financing to local financial institutions in the Middle East, North, and sub-Saharan Africa is set to get additional backing from an existing limited partner for its debt investment vehicle. The Luxembourg-headquartered fund is on track to get ......
Abu Dhabi's Islamic Bank in talks to acquire stake in leading Indonesian lender
Abu Dhabi's largest Islamic bank is in talks to buy a minority stake valued at around $1.1 billion in Indonesia's top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into a fast-growing market in Southeast Asia. The potential acquisition of a 15% stake in Bank ......
EQT, ChrysCap-backed Credila gets valuation bump as new investor joins cap table
Education loan specialist HDFC Credila, which saw two private equity firms EQT and ChrysCapital seal a buyout, first announced last summer, where HDFC Bank sold its majority stake for $1.15 billion last month, is bringing on board another investor to its captable via a fresh deal that also gives it ......
Decline in income from asset divestments caps Blackstone's Q1 earnings growth
Blackstone Inc, the world's largest private equity firm, said on Thursday that its first-quarter distributable earnings rose 1% year-on-year supported by growth in fee-related earnings that was partly offset by a decline in income from asset divestments. Distributable earnings, the cash used to pay dividends to shareholders, rose to $1.27 billion ......
Nexus Venture Partners, Sanjay Nayar’s Sorin top up bets on Uniqus Consultech
Uniqus Consultech, a technology-based environmental, social and governance (ESG) and accounting and reporting consultancy firm, said Thursday it has secured $10 million (Rs 83 crore) in a Series B funding round from existing investors. Homegrown venture capital firm Nexus Venture Partners led the round while Sorin Investments, founded by former ......
Law firm JSA hires Zetwerk exec for corporate practice
J Sagar and Associates (JSA), a full-service law firm, said Wednesday it has hired a former partner for its corporate practice. The firm re-appointed Rakesh Warrier as a retained partner to its Bengaluru office, it said. This is Warrier’s second stint in JSA. He previously worked with the law firm for more than ......
