LeapFrog Investments and Aavishkaar Capital have proposed an investment of approximately ₹399.4 crore ($48 million) in Electronica Finance Limited.
The transaction involves a primary investment by LeapFrog and Aavishkaar in the Series B round raised by Electronica, and a secondary acquisition of shares by LeapFrog.
JSA assisted LeapFrog and Aavishkar Capital on this investment deal.
The transaction team consisted of Sidharrth Shankar (Lead Partner), Prakriti Jaiswal (Partner), Dhruv Malhotra (Principal Associate), Jatin Oberoi (Associate), Pranav Rao N (Associate) and Shubhankar Tiwari (Associate).
They were assisted by Vaibhav Choukse (Partner), Ela Bali (Partner), Aditi Khanna (Senior Associate) and Avni Sharma (Senior Associate).
The transaction was subject to a prior approval of the Reserve Bank of India, and will be closed after the 30-day regulatory notice period.
Electronica Finance is a part of the SRP Electronica Group, and is registered as a ‘middle-layer’ non-banking financial company with the Reserve Bank of India. EFL’s offerings include machine loans, business loans, rooftop solar loans, loans against property, institutional lending, working capital loans and loans to micro-enterprises.
LeapFrog invests in healthcare, financial services and climate solutions businesses in high-growth global markets. Aavishkaar Capital is an impact fund manager focused on the global south
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