Warburg Pincus invests $50 m in Au Financiers

Written by fe Bureau | Mumbai | Updated: Mar 13 2012, 10:20am hrs
Global private equity fund Warburg Pincus on Monday said it invested $50 million in a Jaipur-based non-banking financial company Au Financiers (India) to double its networth and pave way for existing investors to exit some of their stake. International Finance Corporation (IFC), an existing investor and a member of the World Bank group invested fresh money into the NBFC.

The current round led by Warburg Pincus is the single largest equity infusion in the company which would double our net worth, says Sanjay Agarwal, managing director and founder, Au Financiers. We have also recently forayed into housing finance where we have significant growth plans to tap into the huge unmet demand.

Last year, Carlyle group invested in India Infoline and Edelweiss Financial Services Ltd. Over the last decade, NBFCs delivered very high returns on investments, says Saurabh Tripathi, partner and MD, Boston Consulting Group.