MUMBAI: Private equity major Warburg Pincus on Monday announced that it has acquired a 90% stake in non-bank lender Vistaar Finance for $250 million.
The stake in the 13-year-old company has been acquired through a combination of primary and secondary investments, the PE major said.
The acquisition has been done in partnership with banker Avijit Saha, who joins the company as CEO, it said.
This is one of the biggest financial sector bets taken by Warburg in the country, adding that Vistaar presently operates in 12 states and has a customer base of 40,000 and over 2,500 employees.
The stake has been acquired by Warburg from existing investors and the founders. The company had over Rs 3,150 crore of assets under management (AUM) as of end-March, and its net worth has increased to Rs 1,210 crore after the transactions with the overall capital buffers at 37%, it said.
Warburg Pincus MD Narendra Ostawal said Vistaar has emerged as a leading lender to small businesses in semi-urban and rural pockets that are underserved by formal sources of credit.
Saha has been in the industry for over three decades and was ICICI Bank’s head of rural and inclusive bankingsaid the micro, small and medium enterprises (MSMEs) served by Vistaar are a major contributor to the socio-economic development of the country and Vistaar will embark on next phase of growth. agencies
The stake in the 13-year-old company has been acquired through a combination of primary and secondary investments, the PE major said.
The acquisition has been done in partnership with banker Avijit Saha, who joins the company as CEO, it said.
This is one of the biggest financial sector bets taken by Warburg in the country, adding that Vistaar presently operates in 12 states and has a customer base of 40,000 and over 2,500 employees.
The stake has been acquired by Warburg from existing investors and the founders. The company had over Rs 3,150 crore of assets under management (AUM) as of end-March, and its net worth has increased to Rs 1,210 crore after the transactions with the overall capital buffers at 37%, it said.
Warburg Pincus MD Narendra Ostawal said Vistaar has emerged as a leading lender to small businesses in semi-urban and rural pockets that are underserved by formal sources of credit.
Saha has been in the industry for over three decades and was ICICI Bank’s head of rural and inclusive bankingsaid the micro, small and medium enterprises (MSMEs) served by Vistaar are a major contributor to the socio-economic development of the country and Vistaar will embark on next phase of growth. agencies
