JSA advised OIJIF II in its sale of a portion of its investment in Annapurna Finance Private Limited

  • Deal
  • June 19, 2024

JSA advised Oman India Joint Investment Fund II (as a seller) in selling a portion of its stake in Annapurna Finance Private Limited (“Annapurna”) to Piramal Alternatives and another buyer. Piramal Alternatives acquired shares of Annapurna from OIJIF II and other sellers, in total acquiring approximately 10% of the total share capital of Annapurna for cash consideration by way of purchase of equity shares of INR 300 Crores. Piramal also subscribed to debentures of INR 300 Crores issued by Annapurna.

Annapurna is one of India’s leading microfinance institutions headquartered in Odisha with assets under management in excess of $1.25 billion as on March 31, 2024.

The transaction was consummated after receipt of approval of the Competition Commission of India

Deal value: USD 75 million

Our Transaction Team Comprised Lead Partner – Archana Tewary, Partner – Nikhil Joseph.