Baring India Invests in Manappuram Finance (Asia)
Source: VCCircle | Author: Bruhadee Swaran
India-focused investment manager Baring Private Equity Partners India (Baring PE India) has acquired an additional one percent stake in Manappuram Finance, a non-banking financial company involved in gold finance that is listed on both the National Stock Exchange of India and the Bombay Stock Exchange, via open market transactions. Baring PE India started buying into the company in 2011, and has gradually increased its stake to 11.56 percent for an estimated total investment of INR2.25 billion (approximately US$37.7 million). Manappuram Finance also counts private equity firms Sequoia Capital and India Equity Partners among its shareholders.