Jhunjhunwala family looks to invest in NBFCs pummeled by the IL&FS crisis

The crisis was triggered by the default at one of the nation's biggest lenders, Infrastructure Leasing & Financial Services Ltd

A family office that manages money for India’s wealthy Jhunjhunwala family is looking to invest in finance companies which have been pummeled by the crisis in the country’s shadow banking sector.
 

Singapore-based AJ Capital Asset Management Pte sees good value in the shares of the downtrodden non-bank lenders, according to the firm’s Chief Executive Abhinav Jhunjhunwala. He said he’s also looking to invest in private companies in the sector, including through acquisitions.
 

“A lot of these companies in terms of where their share prices are have been penalized disproportionately,” Jhunjhunwala, 34, said in an interview. “I’m fairly bullish that a