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Janalakshmi Financial raises $161 million from TPG, others


- Indian microlender Financial Services, which is setting up a so-called small bank, has raised 10.30 billion rupees ($161.3 million) from existing and new investors in a fresh round of led by TPG.

TPG is investing a "significant amount", said on Monday, adding that current investors Morgan Stanley Asia-managed PE fund Treeline, QRG Enterprises and Vallabh Bhansali also participated in the latest

Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd came on board as new investors, said.

Bengaluru-based recently got the final licence from the Reserve of India to set up a small

($1 = 63.8600 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)

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

First Published: Mon, September 11 2017. 15:17 IST