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Lone Star, RattanIndia plan Rs 2,600 cr investment to launch NBFC

Press Trust of India  |  New Delhi 

today said it will jointly invest Rs 2,600 crore with affiliates of to launch a company (NBFC)

Rajiv Rattan, currently of the RattanIndia Group, will be the and Chief Executive Officer of He and affiliates of Lone Star will each own 50 per cent of RattanIndia Finance, the group said in a statement.

Moreover, it said all relevant regulatory approvals have been obtained and is already engaged in deploying the capital, with offices established in and

The group also claimed that will be among the top 10 NBFCs in based on the currently estimated capitalisation.

Rattan is also the of the He graduated from the - in 1994.

Lone Star is a private equity firm that invests globally in operating companies, real estate, equity, credit, and other financial assets.

"Lone Star looks forward to collaborating with RattanIndia on building a leading NBFC in India," said Mark Newman, President, Lone Acquisitions Limited.

"The capital strength of will immediately make it a key lending platform for companies and small-to-medium sized businesses that seek access to capital. will also focus on steadily building a that extends across India," Rattan said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 15 2018. 19:45 IST
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