Private Equity Funds to Buy Stake in Janalakshmi Financial Services for INR3.5 Billion (Asia)

Source: The Economic Times  |  Author: Sabarinath M, Archana Rai

A consortium of private equity firms including Tata Capital, the private equity arm of the Indian conglomerate Tata Group, and Morgan Stanley Global Private Equity will acquire a significant minority stake in India-based microlender Janalakshmi Financial Services for INR3.5 billion (approximately US$56.8 million). Janalakshmi, a non-banking financial company focused on India’s urban poor, offers financial services to five million customers across 47 cities.