FSL has just filed EGM for a possible raise with JPM as an advisor, and we see stock moving up 30% in last 15 days. JPM was incidentally also the advisor to Genpact-Bain deal and that deal got Genpact $3.3 Bn valuation. That, and newsflow from the space got us out from the earlier gloomy stance.
US based Tano Capital has invested R60 Cr in micro finance company, Arohan Financial Services for a 30% stake. The deal pushes Arohan’s networth to R135 Cr and provides fresh capital to finance it’s expansion.