The Michael & Susan Foundation and Bellweather Microfinance is planning to exit Ujjivan Microfinance, according to ET.
The investors are planning to sell their shares at R57 apiece and existing investor Lok Capital and an unnamed venture capital firm may be interested in acquiring the stake.
Michael & Susan Foundation invested in Ujjivan in June 2006 for 13.48% stake.
Recently, Ujjivan Financial Services raised R127.9Cr by diluting a minority stake in its latest round of PE funding. Netherlands Development Finance Company, Wolfensohn Capital Partners and existing investors – Lok Capital, Sequoia Capital, Unitus Equity, Elever Capital and Caspian Advisors participated in this round of fund raising.
Earlier in January, Ujjivan raised R29Cr by placing NCDs with US based Developing World Markets.
Ujjivan Financial Services was incorporated in 2004 as a NBFC. The company extends loans to the urban and semi-urban poor, and targets salaried and self-employed women.
Promoted by Mr. Samit Ghosh, the entity follows a model wherein customers are organised into joint-liability groups. As on March 2011, UFSPL had loans outstanding of Rs.6.25 billion catering to 0.99 million members, with 351 branches across 20 states in India.
, Michael & Susan Foundation
, Bellweather Microfinance
, Ujjivan Microfinance
, Netherlands Development Finance Company
, Wolfensohn Capital Partners
, Lok Capital
, Sequoia Capital
, Unitus Equity
, Elever Capital
, Caspian Advisors
, Developing World Markets
, Samit Ghosh
|Name||Corpus|| Target Sector ||Website||KeyContact |
|Lok Capital LLC
|| Micro Finance
Donald Macinnes PeckAmi Karnik
|BellWether Capital Private Limited