Cholamandalam’s core business is to provide commercial vehicle finance and loan against properties.
The tie-up will entail a co-GP arrangement wherein both the firms will scout for investment opportunities together.
Warburg Pincus made the final close for its China-SEA focused PE fund in June after securing commitments exceeding a $4.25-billion hard cap.
The stake sale marked a complete exit from the company for Warburg, which had invested in ICICI Lombard in 2017, ahead of the insurer’s IPO.
Chiratae, formerly IDG Ventures India, has backed startups such as Myntra, Lenskart, CureFit, and Policybazaar.
Gandotra will be based out of Singapore, and will lead the platform through its next stage of growth.
The proposed cash-and-share transaction would only go ahead if the LSE's takeover of Refinitiv does not proceed.
The bank expects to get ₹1,000 crore for its 30% stake in the housing finance arm.
Large investments in the infrastructure sector have added momentum to PE/VC investment activity in India.
QBE Insurance Group has appointed Ronak Shah as CEO in its Singapore office while Razer Fintech has appointed Lim Siong Guan as an advisor.
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