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Au Financiers raises $21M in fourth round from existing investors, promoters

BY  Shruti Ambavat
IFC, Warburg Pincus, ChrysCapital and Motilal Oswal Securities were among the investors in the round.

Rajasthan-based non-banking finance company Au Financiers (India) Ltd has raised $21 million (around Rs 126 crore) in its fourth round of fundraising through preferential allotment to existing shareholders, including the promoters.

The investment will be primarily used for expanding its network in 10 states namely Rajasthan, Maharashtra, Gujarat, Goa, Punjab, Madhya Pradesh, Chhattisgarh, Delhi-NCR, Haryana and Himachal Pradesh and for future business expansion activities of the company.

Existing shareholders International Finance Corporation (IFC), Warburg Pincus and ChrysCapital participated in this round. Financial services firm Motilal Oswal Securities has also invested $3 million in the latest round. Previously two private equity funds managed by Motilal Oswal Group had invested in the NBFC.

The Jaipur-headquartered firm, which has 225 branches in north western parts of India, had previously raised funds in 2008, 2010 and 2012. The company expects its loan book to soon hit the $1 billion milestone.

In February this year, IFC lent $30 million to Au Financiers through non-convertible debentures. The private sector investment arm of the World Bank has backed several NBFCs in the past, including Magma Fincorp Ltd and Bandhan Financial Services.

Warburg Pincus also separately controls public listed NBFC Capital First.

(Edited by Joby Puthuparampil Johnson)

(IFC)

International Finance Corp. is the private equity and venture capital arm of World Bank. It provides capital to early stage companies operating in emerging markets such as Africa, East Asia, South Asia, Eastern Europe, Latin America and the Middle East countries. The firm seeks to invest in finance, oil and energy, manufacturing, healthcare, electronics, auto parts, education, information technology, engineering, logistics, agricultural and pharmaceutical sectors. The firm also offers loans, structured finance, risk management, trade finance and local currency financing services. International Finance Corp. is based in Washington DC, United States of America with additional offices in East Asia and the Pacific, MENA regions, Latin America and the Caribbean, South Asia, Western Europe and Sub-Saharan Africa.

(Warburg Pincus LLC)

Warburg Pincus India Pvt. Ltd. is a private equity firm with over $39 billion assets under management. It provides expansion, growth stage, buyouts, spin-off, restructuring and recapitalization capital to companies operating in North America, Europe and Asia. The firm seeks to invest in financial services, healthcare, industrial, technology, media and telecommunications, energy, consumer and retail and real estate sectors. It typically acts as lead investor in transactions with an average investment period between five and seven years and takes a board seat in its portfolio companies. Warburg Pincus India Pvt. Ltd. was founded in 1966 and is based in Mumbai, Maharashtra with head quarters in New York and additional offices in Beijing, Hong kong, London, and Tokyo. The company was originally founded in 1939 as E.M. Warburg & Co. which was later acquired by Lionel I. Pincus & Co. forming Warburg Pincus Private Equity.

(ChrysCapital Management Company)

ChrysCapital Investment Advisors India Pvt. Ltd. (formerly known as Chrysalis Capital) is a private equity firm with $2.5 billion assets under management. It provides early stage, expansion, growth and buyout capital to listed and unlisted companies operating in India. The firm seeks to invest in consumer goods and business service, infrastructure, manufacturing, healthcare, pharmaceuticals and financial sectors. It typically invests between $30 million and $300 million in the companies with revenues ranging from $50 million to $1 billion. The company was founded in 1999 and is based in Port Louis, Mauritius with additional offices in Mumbai and New Delhi.

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