Business Standard

Sunday, December 22, 2024 | 05:10 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Janalakshmi Financial Services raises Rs 1,030 cr equity from TPG, others

Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance came on board as new investors

janalakshmi
Premium

Abhijit Lele Mumbai
Janalakshmi Financial Services (JFS), Bengaluru-based microfinance company which will morph into a small finance bank (SFB), has raised new equity capital of Rs 1,030 crores.  

Private equity player TPG is leading the current round of equity funding by investing a significant amount. Other current investors participating in this round are Morgan Stanley Asia managed PE fund (NHPEA), Treeline, QRG Enterprises Limited and Vallabh Bhansali.

Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited are new investors in JFS.

Ajay Kanwal, chief executive, JFS said the current round of funding is a crucial step in enabling

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in