Russian fund Sistema is in advanced talks to buy a 25 per cent stake in the financial products distributor arm of Inditrade Capital (earlier known as JRG Securities), sources told BusinessLine .

As part of the deal Sistema Asia Capital Pte, a Singapore entity, will value Inditrade Scalerator, a wholly owned subsidiary of Mumbai-based Inditrade Capital at around ₹200 crore and buy a stake worth nearly ₹25 crore, sources said.

Inditrade Scalerator says it aims to enable around 60,000 small loan transactions every day through its app iBoG.

It offers financial solutions ranging from business loans, personal loans, gold loans, insurance, credit cards, select product owners and complete process automation.

Inditrade Scalerator claims to partner with a wide network of mom and pop stores spread across India for client acquisitions through digital means and app. Inditrade has a large presence in south India.

Sistema Capital Pte is part of Sistema Asia Fund, established in 2015 as a mid-stage dedicated tech venture capital in India. It has already exited early investments in companies such as Qwikcilver and Netmeds. The fund has investments in start-ups like LendingKart and Kissht among others. The fund is backed by investors in Europe, Middle East and India, including an anchor investment from Sistema.

Inditrade Capital is promoted by Sudip Bandyopadhyay, the former head of Reliance Money. Bandyopadhyay had picked up a majority stake in erstwhile JRG Securities, one of the leading brokers of south India, and renamed the company as Inditrade Capital.

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