Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (Apis), has entered into a binding agreement to acquire up to 25.1% minority stake in L&T Finance Holdings’ subsidiary — L&T Infra Debt Fund (L&T IDF).
Out of the total investment amount, 70% is in the form of growth capital for L&T IDF and 30% is for purchase of shares from existing shareholders (subsidiaries of LTFH). The Fund’s investment into L&T IDF will support the growth of its loan book focused on infrastructure projects in India, strengthen its capital structure, and further its technology and digitisation strategy. This long-term partnership will support the company in accessing low cost international sources of funds which will be utilised to refinance operational infrastructure projects in India.
L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.
The post Apis Growth Fund II to acquire minority stake in L&T Finance Holdings’ arm appeared first on Udaipur News | Udaipur Latest News | udaipur local news.
