An affiliate of a private equity fund managed by Warburg Pincus LLC has entered into a definitive agreement to acquire a majority stake in Bengaluru-based Vistaar Finance, an NBFC lender for small and medium enterprises.
Existing shareholders include WestBridge Capital (WestBridge), Elevar Equity (Elevar), Omidyar Network India (Omidyar) and Saama Capital (Saama), according to a Vistaar Finance statement.
Details of the transaction regarding the amount of stake that Warburg Pincus affiliates will acquire in Vistaar Finance and the purchase price were not disclosed. The transaction is subject to regulatory and other approvals.
Founded in 1966 and headquartered in New York City, Warburg Pincus has raised 21 private equity and two real estate funds, investing more than $106 billion in over 1,000 companies in 40 countries.
Kotak Investment Banking is the exclusive financial advisor for this transaction.
Vistaar Finance was founded by financial services sector veterans Brahmanand Hegde and Ramakrishna Nishtala to serve small and medium businesses. The NBFC controls his AUM of over Rs 2.6 crore and is present across 12 states and 205 branches, according to the statement.
Brahmanand Hegde, Senior Vice Chairman of Vistaar Finance, said:
Ramakrishna Nishtala, MD and CEO of Vistaar Finance, said that with the support of existing partners WestBridge, Elevar, Omidyar and Saama, Vistaar Finance has come a long way in the past decade to position itself as a specialist MSME lender. said to be established.
“We look forward to continuing to build our legacy into the next phase of our growth,” he said.
Warburg Pincus Managing Director Narendra Ostawal said: Growth based on those regions and communities. “
Published October 10, 2022
