AZB & Partners Acted for Accion Digital Acquisition of Stake in IKF Finance
The Private Equity team of AZB & Partners has acted and advised Accion Digital Transformation Fund, LP in its acquisition
By : Legal Era
Update: 2023-06-12 05:15 GMT
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AZB & Partners Acted for Accion Digital Acquisition of Stake in IKF Finance The Private Equity team of AZB & Partners has acted and advised Accion Digital Transformation Fund, LP in its acquisition of stake in IKF Finance Limited. The acquisition deal was valued for a total consideration of Rs. 1.2 billion (approx. USD 14.5 million). Accion Digital Transformation Fund LP is...
AZB & Partners Acted for Accion Digital Acquisition of Stake in IKF Finance
The Private Equity team of AZB & Partners has acted and advised Accion Digital Transformation Fund, LP in its acquisition of stake in IKF Finance Limited. The acquisition deal was valued for a total consideration of Rs. 1.2 billion (approx. USD 14.5 million).
Accion Digital Transformation Fund LP is an investment fund providing growth capital to microfinance institutions (MFIs) seeking to digitize their transactions and products.
Whereas, IKF Finance Limited founded in 1991, is among India’s prominent Non-Banking Finance Companies (NBFCs) which is involved in offering loans for the purchase of commercial vehicles, cars, MUVs, three-wheelers, tractors, and construction equipment, in addition to secured Micro, Small & Medium Enterprises (MSME) loans.
The Private Equity team of AZB & Partners advised and acted for the acquirers in the acquisition deal.
The transaction team was led by Hardeep Sachdeva (Senior Partner), Priyamvada Shenoy (Senior Partner) and Shivang Sargoch (Partner)
The team also received support from Senior Associates Rachel Noronha, Apurv Ranjan and Isha Singh.
The deal was signed on 28th March, 2023 and was closed on 31st March, 2023