Janalakshmi MFI To Raise R50Cr, Lok Capital May Exit
by Charmi Gutka
Janalakshmi Financial Services Pvt Ltd is planning to raise upto R50Cr from PE investors. This deal will provide an exit route to Lok Capital, the Michael and Susan Dell Foundation and Bellwether Microfinance Fund who funded the company when it was set up in 2007.
It also has plans to raise additional capital of R80Cr to R100Cr in 2012-13 in order to achieve its planned scale of business operations.
After five months of negotiations and competitive bidding, the global PE funds Warburg Pincus and General Atlantic, emerge as the frontrunner to buy a majority stake in brokerage and financial services firm, Sharekhan at a deal valued between R2,000- 2,400 Cr.