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Janalakshmi Financial raises $161 million from TPG, others


REUTERS - Indian microlender Janalakshmi Financial Services, which is setting up a so-called small finance bank, has raised 10.30 billion rupees ($161.3 million) from existing and new investors in a fresh round of funding led by TPG.TPG is investing a "significant amount", Janalakshmi said on Monday, adding that current investors Morgan Stanley Asia-managed PE fund Treeline, QRG Enterprises and Vallabh Bhansali also participated in the latest funding.Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd came on board as new investors, Janalakshmi said.Bengaluru-based ...

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