The investment in Ess Kay Fincorp represents its ninth growth equity deal in financial services. About half of this amount constituted primary infusion into the lender and the remaining went to private equity investor BanyanTree Growth Capital, which fully exited the company, Ess Kay said in a statement. This also includes to implement swift and simple loan processes, through identifiable faces as staff members, to make the dreary loan processes an easy ride. It has a paid-up equity of Rs 190 crore at present, up from Rs 86 crore earlier. Ess Kay Fincorp Limited is a Public incorporated on 21 November 1994.
For originators, such structures offer higher ratings and enable them to access mainstream investors like mutual funds, pension funds and insurance companies. Let's work together to keep the conversation civil. Promoted by Rajendra Setia, Jaipur-based Ess Kay Fincorp plans to invest the fresh funds to deepen its presence in existing locations and spreading its footprint to new regions. Share on Facebook Share on Twitter Refrain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. The funds infusion, Rs100 crore which is primary investment, increases the capital pool available with the company, which directly translates into higher loan disbursement, and improved capacity to raise debt capital from the market. In the latest round, Norwest has invested Rs108 crore in the company with the rest coming from Baring and Evolvence, said Atul Arora, chief financial officer at Ess Kay Fincorp. Investors Norwest is known for actively backing financial services firms including Shriram City Union Finance and Yes Bank.
The firm operates through a network of 240 branches in six states across northern and western India, with more than 75,000 customers and a loan book of more than Rs 1,100 crore. Just click on the 'Update Information' button below to start the process. We serve our customers with a strong network of 250+ branches across 6 states- Rajasthan, Gujarat, Punjab, Haryana, Madhya Pradesh and Maharashtra. Its authorized share capital is Rs. Ltd, where it made a four-fold return on its investment including dividends.
Norwest invested Rs 108 crore while Baring Private Equity India and Evolvence India put in the remaining amount, Ess Kay chief financial officer Atul Arora said in the statement. We are continuously working to enhance experience of our customer with simple operations, minimal documentation, flexible repayment options, hassle-free eligibility criteria and fast sanctioning process. Philosophy Our philosophy is to build an institution on foundation of ethics and robust governance, and to become pioneer of the innovative products for our customer. It has more than 75,000 customers with a loan book exceeding Rs1,100 crore. Financing second hand vehicles is its major business focus and constitutes about 90% of the loan book. BanyanTree, which had invested Rs 18 crore in 2012 and had a 25% stake in Ess Kay Fincorp, walked away with a return of more than five times its initial investment.
Help us delete comments that do not follow these guidelines by marking them offensive. Ess Kay Fincorp with Rs 1150 crore loan outstanding at the end of December last year looks to grow its loan portfolio to Rs 1300 crore by March. The risk further decreases gradually as the underlying bond amortises and the guarantee builds up. Over these years, our bonding with the common man has strengthened with the belief that each customer is an asset for us. We encourage first-time-buyer over first-time-user We provide Vehicle and small business loans At Ess Kay Fincorp, we make sure that all the vehicles that we loan and finance are covered under insurance.
Our focus now is to expand presence in Madhya Pradesh, Maharashtra, Punjab and Haryana. It also wants to more than double its loan book in a little more than a year's time. Our philosophy is also based on 3S principles i. She said the guarantee and an-inbuilt cover pool in the product reduce risks for investors and provides credit enhancement for the issuance. Current status of Ess Kay Fincorp Limited is - Active. Its Email address is anagha. Behind the functioning of the organization, is the belief that each customer is an asset in the growth of our business.
It is classified as Non-govt company and is registered at Registrar of Companies, Jaipur. Latest News: Our aspiration came true, Now we are Ess Kay Fincorp Private Limited Formerly known as Ess Kay Auto Finance Pvt. Arora said the company is looking to expand in Madhya Pradesh, Maharashtra, Punjab and Haryana after scaling up in Gujarat last year. The link with the common man has strengthened us with time. Ess Kay will use the funds raised to invest in building scale by deepening its presence in existing locations and expanding operations into new geographies. You can ask for a company to be added to the front of the queue for updating, especially useful if the address, directors, or other critical information has changed. Its most recent investment in a financial services firm was in microlender Suryoday Small Finance Bank Ltd.
Baring Private Equity Partners India, one of the oldest private equity funds in the country, has investments in listed companies including Muthoot Finance and Manappuram Finance. Mint reported in September that. Ess Kay operates through a network of around 240 branches in six states across northern and western India. Last year, the private equity firm made full exits from three financial services firms with above-benchmark returns. The company raised another Rs 50 crore from two local mutual funds in bonds, its vice president Vivek Singh said. Spark Capital Advisors was the financial advisor to Ess Kay Fincorp. This is the second round of private equity investment in the company which will celebrate its jubilee next year.
It is inolved in Other financial intermediation. Kolkata: Ess Kay , the Jaipur-based vehicle financier, has raised Rs 150 crore in equity and sale as it looks to expand business as the is projected to grow 7. . Directors of Ess Kay Fincorp Limited are Munish Dayal, Rajendra Kumar Setia, Anand Raghavan, Shalini Setia, Gaurav Trehan, Amar Lal Daultani,. Who we are- With a track record of 25+ years in this business we are among the leading Non-Deposit Taking Systematically Important Non-Banking Finance Company in Northern Indian.
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