PE firm Creador invests $33m in India’s Ujjivan Financial for 5% stake

Private equity firm Creador has picked up a 5 per cent stake in publicly-listed Ujjivan Financial Services Ltd, the holding company of Ujjivan Small Finance Bank, through its affiliate Ardisia Ltd.

The stake was bought from Cinnamon Capital for Rs 215 crore ($33 million).

For Creador, this is the 28th investment globally and 10th in India, the South and Southeast Asia-focused private equity (PE) firm said in a statement.

In August, CDC Group Plc, the development finance institution owned by the UK government, sold a part of its stake in Ujjivan Financial Services Ltd for around Rs 212 crore.

Ujjivan provides loan and savings products to the unserved and underserved population. Incorporated in 2004, Ujjivan today serves 3.7 million customers through its network of 445 branches across 24 states and union territories.

Ujjivan Small Finance Bank has 65 full-fledged brick and mortar branches operating in eight states and two union territories.

Creador is currently investing from its $415-million third fund.

Recently, it invested Rs 275 crore in hospital chain Paras Healthcare for a 20 per cent stake. It had also invested in Ahmedabad-based pharmaceutical company Corona Remedies Pvt. Ltd.

One of its recent exits was in real estate firm Ashiana Housing, which last week got a commitment of $41 million from IFC.

Also Read:

India: CDC Group sells part of Ujjivan Financial Services stake for $33m

India: Paras Healthcare raises $42m from Creador

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.