IGI Logo

Private markets investment firm Siguler Guff and Company on Monday announced it has invested Rs 240 crore for an approximate 3.5 per cent ownership stake in Spandana Sphoorty Financial Ltd, a Hyderabad-based microfinance Non-Banking Financial Corporation (NBFC).

Spandana Sphoorty offers income-generation loans under the joint liability group model, predominantly to women.

Spandana’s Assets Under Management (AUM) stood at about Rs 11,970 crore (as of March).

“Spandana has delivered impressive AUM growth while expanding return on assets from 1.6 per cent to 4.5 per cent over the last two fiscal years. Our investment in Spandana confirms our belief in the company’s untapped growth potential,” said Aviral Jain, Managing Director and Head of India at Siguler Guff.

Siguler Guff has earlier invested in City Union Bank, Manappuram Finance and Repco Home Finance in the country.

Its private company investments in India include consumption-oriented businesses such as affordable fashion retailer Baazar Kolkata, domestic cardiovascular medical devices platform Relisys, South India-focused consumer electricals retailer Luker, Gujarat-based corporate hospital chain Sterling Hospitals, and homegrown social media and news platform Verse Innovation.

Shaun Khubchandani, Partner and Co-Head of Emerging Markets at Siguler Guff, said that they are excited about deepening their commitment to India.

The company’s private company investments in the country include consumption-oriented businesses such as affordable fashion retailer Baazar Kolkata, health-tech platform Relisys, electricals retailer Luker, hospital chain Sterling Hospitals and homegrown Verse Innovation.

Siguler Guff has over $16 billion of assets under management.