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Janalakshmi, a microfinance institution, has raised Rs 325 crore via Series D primary equity issue.
In addition, the company, through secondary transaction of Rs 25 crore, provided a complete exit for Lok Capital and the Michael and Susan Dell Foundation, both of whom were early stage Series A investors.
V. S. Radhakrishnan, MD and CEO, Janalakshmi, said: “This is a validation of our business model that we have pursued over the last several years.
“This investment will help us continue in our path of growth and innovation, as we continue to focus on building stronger customer relationships with a full suite of financial products and new technology such as Aadhaar-based front-end terminals.”
Morgan Stanley Private Equity Asia (MSPEA) led the transaction and Tata Capital Growth Fund and QRG Enterprises, the promoter holding company of Havells India, also participated in the round.
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