Consortium Buying Stake Worth INR3 Billion in Ratnakar Bank (Asia)

Source: Economic Times  |  Authors: Sneha Shah and Sabarinath M.

Private equity and venture capital firms Aditya Birla Private Equity, Norwest Venture Partners (NWF), Faering Capital, Argonaut Ventures and Gaja Capital are among the investors committing INR3 billion (approximately US$54.9 million) to India’s Ratnakar Bank. The investment is intended to help Ratnakar prepare for a possible initial public offering in India in 2014. Faering, NWF and Gaja previously invested in Ratnakar in 2010.