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Elevation Capital bumps up holding in Muthoot Capital Services
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Venture capital and growth-equity firm Elevation Capital (previously SAIF Partners) has acquired additional shares in listed non-banking finance company (NBFC) Muthoot Capital Services.

On Monday, it bought 2.5% stake in the company, bumping up its holding to 9.52%, going by a filing. 

Elevation Capital had first acquired 3.94% stake in the company during the quarter ended December 2019.

By the end of March 2020, its shareholding stood at 4.57%, and by the end of June 2020 at 6.68%.

At the end of December 2020, Elevation Capital held 11.63 lakh shares representing 7.07% stake in the company.

In 2021, it sold shares bringing down its holding to 7.02%, after which it bought stake in the latest development bumping up stake to 9.52%.  

In a separate financial sector bet, Elevation Capital invested in Aye Finance in June 2018 as part of its Series C round of funding.

It holds a 28.08% stake in Aye Finance.

In another fintech bet, Elevation Capital led a Series B round in rural lending startup SarvaGram, as reported by VCCircle earlier this month.

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