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

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)

(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.

Nuvo Chryscapital Advisors Pvt. Ltd. is engaged in providing investment advisory services to ChrysCapital Investment Advisors India Pvt. Ltd. The company was founded in 2012 and is based in Mumbai, Maharashtra.

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