--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
Belgium-based private equity firm Incofin has bought a 25 per cent stake in Indian micro finance institution (MFI) Arman Financial Services for INR150m ($3m).
According to news reports, the firm has bought an equity stake in the Bombay Stock Exchange-listed company valued at INR56.95 ($1.094), nearly a 100 per cent premium to its share price on 22 November of INR30.50 ($0.59).
The deal marks Incofin’s second investment in an Indian micro finance company through its $120m Rural Impulse Fund-II vehicle, bringing the total invested in the sector to $4m
Incorporated in 1992 and based in Ahmedabad, India, Arman is a non-banking financial services company which operates in a number of areas, including two wheeler and three wheeler financing, micro financing, and personal financing.
The company also offers used car and personal loans, and is working on plans to expand into value-added financial services such as full-fledged savings and insurance services.
Incofin manages funds that invest in MFIs in developing countries which primarily offer financial services to more secluded rural areas which are active in the agricultural sector. The firm operates from offices in Belgium, Colombia and India, and offers finance and support to organisations in more than 40 countries.
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Tags: buy-out, emerging markets
