Dice alphabet with text equity on stack coins | Photo: Shutterstock
Multiples Alternate Asset Management , the private equity fund, has acquired an estimated 40 per cent non-controlling stake in APAC Financial Services for a reported Rs 2.5 billion. APAC Financial Services is involved in financial services for Micro, Small and Medium Enterprise (MSME) segment.
The APAC group started operations in mid-2018 after receiving the requisite licenses related non-banking finance and housing finance from the Reserve Bank of India and from the National Housing Bank, respectively.
With the recent investment from Multiples Alternate Asset Management, the share capital of the APAC group stands at Rs 4 billion.
Renuka Ramnath, Founder and
First Published: Dec 14 2018 | 6:22 PM IST