AZB & Partners advise KKR in acquiring equity stake in Five Star Business Finance Ltd.
AZB & Partners advise KKR in acquiring equity stake in Five Star Business Finance Ltd. Chennai based Five Star Business Finance Ltd. – a non-banking finance company (NBFC), has raised Rs. 1,700 crore ($234 million) from a consortium of global and Indian investment firms. The investment values the company at Rs. 10,300 crore ($1.4 billion). The round included investment by...
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AZB & Partners advise KKR in acquiring equity stake in Five Star Business Finance Ltd.
Chennai based Five Star Business Finance Ltd. – a non-banking finance company (NBFC), has raised Rs. 1,700 crore ($234 million) from a consortium of global and Indian investment firms. The investment values the company at Rs. 10,300 crore ($1.4 billion).
The round included investment by existing investors in the company led by Sequoia Capital India, with participation from Norwest Venture Partners, and new investors led by Kohlberg Kravis Roberts & Co. L.P. (KKR) with participation from TVS Capital.
AZB & Partners advised KKR in acquiring equity stake in Five Star Business Finance Ltd.
The investment was made through a combination of primary infusion and secondary shares sales by existing investor Morgan Stanley Private Equity, while the other existing investors Martix Partners and TPG Capital will continue to stay invested.
Five Star Business Finance Ltd. was founded in 1984 by VK Ranganathan. The company is focused on providing consumer housing loans and commercial vehicles finance.
Rinki Ganguli (Partner) alongwith Palaq Vora (Senior Associate) advised KKR in the transaction.
