Khaitan & Co. guided abcIMPACT, part of Temasek Trust Asset Management, through its USD 30 million Series G funding in Aye Finance.
Khaitan & Co. provided legal counsel to abcIMPACT, a member of Temasek Trust Asset Management, on leading a USD 30 million Series G investment round in Aye Finance Pvt. Ltd, via its second fund, IMP2Assets.
The legal team was led by Monika Srivastava, Sanchit Agarwal, Prerna Kapur, Chirag Mangal, and Shivangi Mishra, with contributions from Ritu Shaktawat in direct tax matters and Pranjal Prateek on competition law.
Aye Finance, a Gurugram-based non-banking financial company, has entered into definitive agreements to raise Rs 250 crore in a Series G funding round, led by Singapore’s ABC Impact, an investment firm supported by Temasek and Temasek Trust. This new investment brings Aye Finance’s total equity raised to Rs 1,250 crore. Notably, this round marks the first investment from ABC Impact’s Fund II, which has an expanding assets under management (AUM) of over $850 million, as stated in the company’s press release.
The Series G round also saw participation from British International Investment, the UK’s development finance institution, which had previously led Aye’s Series F round of Rs 310 crore in December 2023.
In August, Aye Finance completed a Rs 212 crore (approximately $25.3 million) business loan securitisation transaction with Goldman Sachs (India) Finance Pvt Ltd. Since its inception in 2014 by Sanjay Sharma and Vikram Jetley, Aye Finance has disbursed over Rs 12,000 crore in small-ticket loans to more than nine lakh businesses. As of June 2023, the company achieved profitability in Q1 FY24, posting a profit after tax (PAT) of Rs 38.67 crore.
ELP Advises Lead Managers on Sambhv Steel Tubes’ ₹540 Crore IPO Filing
Share your news, articles, deals, columns, or press releases with us! Click the link to submit and join our platform today.
