Offshore investor set to provide funding to Namdev Finvest, backed by BII
A new foreign institutional investor has joined British International Investment (BII) in backing Namdev Finvest, a Jaipur-based non-banking financial company that specialises in providing financial services to medium, small, and micro-enterprises (MSMEs) [1]. The identity of the new investor remains undisclosed in the available information.
Namdev Finvest, with assets under management of Rs 1,417 crore ($162 million) as of March 31, has been a significant player in the Jaipur financial landscape, focusing on supporting the growth of local MSMEs [2]. The company's specific purpose for receiving this new funding is not disclosed in the article.
Meanwhile, Gold-loan NBFC Indel Money is on the hunt for its first external institutional investor [3]. This move indicates a potential shift in the financial landscape as more non-banking financial companies seek to expand their operations.
In a separate development, SK Finance, a PE-backed company, is seeking capital from an offshore investor in preparation for a planned Initial Public Offering (IPO) [4]. The article does not provide any information about the financial performance of Namdev Finvest in the current year.
Elsewhere, Osam, a dairy firm, has found a buyer following the exit of Lok Capital, Aavishkaar, and BII [5]. The transaction marks a significant change for Osam, but the details of the sale were not disclosed in the article.
BII has been active in India, increasing its India commitments in 2024 primarily through debt investments [6]. The company's continued interest in Indian businesses underscores the attractiveness of the Indian market to foreign investors.
However, the article does not provide any details about the diversification drive mentioned in the title or the impact of the funding on Namdev Finvest's operations or future plans.
Investors are showing increased interest in financing businesses, as evidenced by Gold-loan NBFC Indel Money seeking its first external institutional investor. Additionally, Namdev Finvest, which specializes in providing financial services to MSMEs, received funding from an undisclosed foreign institutional investor and has been a significant player in the Jaipur financial landscape, focusing on growing local MSMEs.
