<article>Delhi based investment services company <a style="color: #000080;" href="http://www.bajajcapital.com/">Bajaj Capital</a>, is looking to sell up to 26 per cent of its stake, and has mandated <a style="color: #000080;" href="http://www.avendus.com/">Avendus Capital</a> to scout for buyers, according to <a style="color: #000080;" href="http://www.livemint.com/Industry/6I2NsNoHEV8dQvte995ePM/Bajaj-Capital-open-to-selling-upto-26-stake.html">a report</a> by Press Trust of India quoted in LiveMint.</article>

Delhi based investment services company <a style="color: #000080;" href="http://www.bajajcapital.com/">Bajaj Capital</a>, is looking to sell up to 26 per cent of its stake, and has mandated <a style="color: #000080;" href="http://www.avendus.com/">Avendus Capital</a> to scout for buyers, according to <a style="color: #000080;" href="http://www.livemint.com/Industry/6I2NsNoHEV8dQvte995ePM/Bajaj-Capital-open-to-selling-upto-26-stake.html">a report</a> by Press Trust of India quoted in LiveMint.
“We are open to selling upto 26 per cent of our stake to raise funds to fuel our growth plans in the financial products distribution business. Avendus Capital had been entrusted as our advisor,” Bajaj Capital group CEO and director Anil Chopra told PTI.
“We are trying to invest aggressively in technology platforms for greater penetration and tapping tech savvy investors, and for that we require resources,” he added.
While the process is at a very early stage, Chopra indicated that the company would prefer technology-backed companies for dilution of its stake.
“The company is looking at a valuation of close to Rs1,200 crore (around $180 million) ,” Chopra said.
According to other media reports, some global insurance companies and private equity investors have shown interest in Bajaj Capital. The Insurance Amendment Act has brought insurance intermediaries under the same FDI ambit as insurance companies. The act allows foreign direct investment of upto 49 per cent in insurance companies and intermediaries.
On the expansion plans, Chopra said the company plan to double the number of client advisors in three years from 700 now. However, it does not plans to increase the number of offices from 230 as it looks to reach out to smaller cities through associates.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/10-years-of-venture-capital-investing-in-india-time-to-pause-reflect-correct-27388/">10 years of venture capital investing in India: Time to pause, reflect &amp; correct</a>

Delhi based investment services company Bajaj Capital, is looking to sell up to 26 per cent of its stake, and has appointed Avendus Capital as advisor.

India: Bajaj Capital looks to sell 26% stake; eyes $180m valuation

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India: Bajaj Capital looks to sell 26% stake; eyes $180m valuation

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