Arpwood Partners to acquire majority stake in SEWA Grih Rin with equity commitment of Rs 680 crore, ET RealEstate
NEW DELHI: SEWA Grih Rin (Sitara), an affordable housing finance company, has entered into an agreement with Arpwood Partners Fund I LLP (Arpwood Partners) and some existing shareholders to raise equity capital of Rs. 705 crore for financing business growth.
Arpwood Partners has committed to invest Rs 680 crore and acquire a majority stake in the company. Existing investors including Abler Nordic, Oikocredit, RNT Associates, HDFC Bank, HDFC Life Insurance, Women’s World Banking Asset Management and Omidyar Network will continue to remain invested in the company.
The deal is subject to approval by the Reserve Bank of India.
Sitara, started in 2015, has assets under management (AUM) of about Rs 1,200 crore with 25,000+ customers.
DC Advisory India worked as advisor to the transaction. Trilegal acted as legal advisors to Sitara and some existing shareholders, Vertices Partners acted as legal advisors to Abler Nordic and Oikocredit and Anagram Partners acted as legal advisors to Arpwood Partners.
