Swaraj Singh Dhanjal
This is not the first time Fairfax, which set up ICICI Lombard General Insurance in 2001 along with ICICI Bank, is selling its stake in the company.
In early stage, the fund will invest in ticket sizes of ₹4-5 crore, while its growth stage investments will have a ticket size of around ₹10-30 crore.
The company plans to use the capital to bolster its backend and for marketing needs.
Actis is building the world’s largest non-governmental data centre outside Beijing and is eyeing similar opportunity in India after implementation of RBI norms on data localization.
Sales to strategic buyers comprised almost a third of private equity exits in India from 2015 to 2017, the period under consideration in the McKinsey report.
CDC is looking to bring in an equity partner for its renewables platform. It is said to be in talks to appoint a banker to run a process to help find a partner.
IDFC had invited bids from interested suitors for the sale of the securities business and today was the last day to submit bids.
InCred focuses on four lending verticals: affordable housing, small and medium enterprises, education and consumer finance.
Ebix entered India with the purchase of an 80% stake in ItzCash for Rs 800 crore from Essel Group and other shareholders in May 2017.
The funding from Teachers Insurance and Annuity Association will help Aavishkaar-Intellecap scale up its asset management and lending business.