The Burman Family Office, the family office of the promoters of Dabur Group, has invested an undisclosed amount to pick a minority stake in Experian Credit Information Company of India Pvt Ltd (ECICI), an affiliate of Experian plc Ltd.
ECICI proves credit information services to banks, non-banking financial companies and others. Its shareholders include Axis Bank, Federal Bank, Indian Bank, Magna Finance, Punjab National Bank, Sundaram Finance and Union Bank of India which together invested $32.64 million in the company to acquire 51 per cent in 2009.
It is an affiliate of UK-based Experian plc Ltd, which operates in 39 countries with revenues of $4.8 billion for the year ended March 31, 2014. With headquarters in Dublin, Ireland, the firm has operational offices in Nottingham, UK; California, US; and So Paulo, Brazil.
The Burman Family Office manages the business family’s investment in diversified asset classes, including real estate, public equity and private investments in a range of industries including financial services, insurance and healthcare.
Last year, it invested in Delhi-based non-banking finance company DMI Finance Pvt Ltd.
The investment in ECICI further diversifies the family’s portfolio of investments in the finance sector.
Langham Capital advised the Burman Family Office on the equity investment in ECICI.
(Edited by Joby Puthuparampil Johnson)