Jacob Ballas to invest Rs 200 cr in Religare Finvest

New Delhi, Jan 3: Private equity fund Jacob Ballas has announced that it has agreed to invest Rs 200 crore in Religare Finvest Ltd, an MSME-focussed non-banking financial services arm of Religare Enterprises.
“The capital infusion will be in the form of compulsory convertible preference shares and would be the second equity investment in Reliance Finvest Ltd (RFL) in quick succession after Avigo Capital invested Rs 150 crore in November 2011,” the company said in a statement released yesterday.
“We are pleased to announce this capital infusion by Jacob Ballas in Religare Finvest Ltd,” Religare Enterprises’ Group CEO Shachindra Nath said.
The PE funding is expected to help the company meet its growing capital requirements.
Jacob Ballas Fund is advised by Jacob Ballas Capital India Private Ltd, a leading private equity advisor with a 19-member team, advising three India-focused Mauritius based private equity funds.
Investors in the Funds comprise predominantly leading international institutions such as insurance companies, sovereign wealth funds, pension funds, banks, funds of funds as well as reputed international family investment offices.
The Funds have generated ten liquidity events from its portfolio including full and partial exits.
Mr Nath said the investment (by Jacob Ballas) is not only an external endorsement of the operating model but also demonstrates that despite macro headwinds in challenging times there are value seeking investors for fundamentally strong business models.
“This move also positions us well to capitalise on the existing business opportunities while delivering superlative value for all our stakeholders. We welcome Jacob Ballas to the Religare family,” Mr Nath added.
Religare Finvest provides debt capital to MSMEs (micro, small and medium enterprises) in form of loans against property, working capital loans, loans against plant and machinery, vehicles and construction equipments and loan against marketable securities.
The company has more than 25,000 MSME accounts and its loan book stood at Rs 11,380 crore as on September 30, 2011. (UNI)
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