Connect with us

Hi, what are you looking for?


TPG hikes investment in Janalakshmi

Global private investment firm TPG led a $210 million investment in microfinance company Janalakshmi Financial Services, adding on its 2014 investment in the company. Existing investors Morgan Stanley Private Equity Asia, Havells India and Vallabh Bhansali also participated in the funding, along with new investors. Janalakshmi Financial Services said TPG led a $150 million round of primary equity financing and secondary transactions aggregating $60 million will provide partial exits to existing investors. TPG’s investment adds to the 2014 investment it made in Janalakshmi. Janalakshmi is the largest and fastest-growing microfinance institution in India and is among the country’s largest issuers of pre-paid cards and micro-pensions. It has its offices or representatives in more than 184 cities and towns across 19 states in India and has an AUM of approximately $1.65 billion. Ramesh Ramanathan, promoter and chairman of the company, said this latest round of capital will fuel further expansion of the products and services it offers and bring them to more families, businesses, and individuals. TPG has partnered with Indian financial services companies including Shriram Capital, Shriram City Union Finance and Shriram Transport Finance.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.