ChrysCapital Participates in a US$21 Million Financing Round for Au Financiers, Increases Stake in ING Vysya Bank (Asia)

Source: VCCircle  |  Author(s): Shruti Ambavat

India-focused investment firm ChrysCapital, private equity firm Warburg Pincus and development finance institution International Finance Corporation (IFC) have participated in a US$21 million financing round for India-based non-banking finance company Au Financiers. Financial services firm Motilal Oswal Securities also invested US$3 million in the round. The investment will be used for expanding the company’s network in ten states. Separately, over the past six months ChrysCapital has bought an additional 1.6 percent stake in India-based private sector bank ING Vysya Bank for around INR1.8 billion (approximately US$30 million). ChrysCapital, which originally invested in ING Vysya Bank in 2004 and exited in 2009, began to reinvest in the company three years ago.