Avendus

A sale would mark one of the larger pvt equity exits in India's financial services sector, signaling strong investor appetite for country's fast-growing capital markets and wealth management industry

Clean Science shares fell as much as 9.3 per cent but pared their losses to close 2.7 per cent lower in Mumbai

Avendus Structured Credit Fund III secures Rs 1,000 crore in first close as investors seek tailored private debt with target IRRs of 16-18 per cent amid lending constraints

Avendus Capital, the investment bank, which is backed by KKR & Co, is raising as much as Rs 3,000 crore ($343 million) for its Future Leaders Fund III

The 25 year-old Mumbai-based financial services firm aims to raise as much as Rs 4,000 crore ($466 million) through the fund, that will invest in the debt of mid-sized businesses in the country

The fund is targeting a total corpus of Rs 1,000 crore, including the green-shoe option of Rs 500 crore

According to an industry official tracking developments at GIFT City, four other companies' applications are under are under consideration for setting up AIFs

The fund, a category-II AIF registered with Sebi, is targeting to raise Rs 750 crore with a green shoe option of another Rs 500 crore

Ranu Vohra talks about how he wants to make the firm more relevant across business lines taking advantage of disruptions in the market

Private equity fund Avendus Future Leaders Fund Monday said it has bought a stake in domestic snacks firm Bikaji Foods International for Rs 40 crore. The fund that is focused on investing in late-stage private companies in the consumer and financial services segments, through a secondary transaction, purchased a part of the stake held by two existing investors - Lighthouse and Intensive Softshare, the release said. Future Leaders Fund Managing Partner and Head Ritesh Chandra said the stake has been acquired for Rs 40 crore. "Bikaji has established itself as a leading company in the Indian ethnic snacks segment with a sizable market share, profitability and a platform geared for growth. With pan-India presence and favourable macro tailwinds, the company is expected to grow rapidly in the coming years," Chandra said. Future Leaders Fund plans to raise Rs 500 crore from individual and institutional investors. The fund, in its life cycle, is targeting to invest in eight to 10 companies

Avendus has an exclusive agreement with proxy advisory firm IiAS, to assess NSE Nifty 100 Index companies based on ESG scores

Avendus India has invested in 20 companies

Valuation remains undisclosed; Acquisition is subject to regulatory approvals in India, UK

AvendusFinance, the credit solutions arm of Avendus Capital, today announced thelaunch of its Category II structured credit fund. The alternative investmentfund will target a corpus of Rs 250 crore and will retain any oversubscription ofup to Rs 250 crore.Investors will need to commit a minimum of Rs 1 crore into the fund, which willtarget the mid-market firms. The fund will invest in structured credit productsof holding and operating companies yielding mid- teens returns, which mayinclude equity upside. The fund will invest across industrials, healthcare and consumer, but stay awayfrom infrastructure. "The fund will co-invest with Avendus Finance. The NBFCwill have a minimum 20 per cent share in every transaction,'' says SandeepThapliyal, managing director & CEO - Avendus Finance, who will manage thefund with colleague Nilesh Dedhi. "With this new fund, we are confident to strengthen our footprint in the alternativeinvestment space. Structured credit is today well acknowledged .

Aims fivefold growth in revenue to Rs 1,400 crore in 5 years

He worked with Ambit Capital for nearly eight years