The state-owned lender could launch the deal as early as the next fortnight.
Elevar Equity, responsAbility, and Accel Partners also participated in this round.
IPOs & Markets
Around 59 companies with plans to raise as much as ₹53,000 crore have secured the approval of regulator Sebi to launch IPOs.
Yes Bank’s idea to tap PE funds is akin to Axis Bank's $1.8-billion funding from Bain and others in 2017.
Sebi had introduced the AIF regime in August 2012 to ease capital flows into alternative asset classes.
There were 211 exit deals in 2017 totalling $15.7 billion.
The plan to sell its Ashoka Concessions stake is part of Macquarie’s efforts to exit investments from its previous India fund.
Treebo last raised capital in 2017, when Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital led a $34 million investment.
By crossing the 25% shareholding mark, L&T gets a board seat and the power to propose or block special resolutions.
The proposed InvIT will have an initial corpus of $600 million, and the option to scale further.
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