Private equity fund Kedaara Capital Investment Managers Ltd is in talks to acquire a majority stake in Indian School Finance Co. Pvt. Ltd (ISFC), a Hyderabad-based non-banking financial company (NBFC) that lends to companies in the education sector, said two people aware of the development.
Kedaara plans to invest about $50 million in two tranches and acquire controlling stake from existing investors and promoters, the first person cited above said, on condition of anonymity. IFSC has Grey Matters Capital and Caspian Impact Advisors as investors. Deloitte advised ISFC to find a new investor.
