Jaipur based NBFC - 
Ess Kay Auto Finance Pvt Ltd has raised funding from BanyanTree Growth Capital LLC. Post transaction, Banyan Tree will have a board representation.
Ess Kay will use the funds to ramp up operations and improve it's capital structure.
Ladderup Corporate Advisory Pvt Ltd was the sole advisor to the transaction.
Promoted by Rajendra Sethia, EssKay finances pre-owned commercial vehicles. It finances commercial vehicle, multi utility vehicle, car, three-wheeler etc. It also originates loans for AU Financiers (I) Pvt. Ltd. under channel business arrangement. The company has 45 branches spread across Rajasthan and Gujarat.
The company reported net profit of R2.28Cr on total income of R11.85Cr as compared to net profit of R0.62Cr on total income of R4.75Cr. It had loan portfolio of R14.21Cr on its book and R108.85Cr of off-book portfolio as on March 31, 2011. For H1FY12, the company reported net profit of R2.88Cr on total income of R10.66Cr.
This is fourth PE investment in NBFC in first quarter of 2012. Last month, Warburg Pincus announced a $50Mn investment in Japiur based AU Financiers Pvt Ltd. Multiples Alternate Asset Management and Creador Capital are investing R106.04Cr for a 15% stake in Cholamandalam Investment And Finance Company and Jacob Ballas is planning to acquire 5% stake in Religare Finvest, the NBFC controlled by Religare Enterprises for R200Cr.
This is BanyanTree's eight investment in India. Last month, it invested in Bhopal based EPC firm - Dilip Buildcon, read this. It's other investments include Axiom Cordages, Trimax IT Infrastructure Systems, GEI Industrial Systems, Deepak Fasteners and Dee Development Engineers.
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| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 05/03/12? | Ess Kay Auto - BanyanTree Growth | Private Equity? | BanyanTree Growth Capital? | -? |
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| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 05/03/12 ? | Private Equity ? | BanyanTree Growth Capital ? | Ess Kay Auto Finance Private Limited ? | - ? | Completed ? |
| 01/03/12 ? | Private Equity ? | Bajaj Holdings & Investment Limited ? | Multi Commodity Exchange of India Limited ? | 25.41 ? | Completed ? |
| 29/02/12 ? | IPO / Offerings ? | ? | Dewan Housing Finance Corporation Limited ? | 62.16 ? | Announced ? |
| 24/02/12 ? | Private Equity ? | TVS Shriram Growth Fund ? | Development Credit Bank Limited ? | 20.40 ? | Completed ? |
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Fund | ||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| BanyanTree Growth Capital? | 100 ? | Sector Agnostic Basic Industries IT/ITES/Technology ? | www.banyantreefinance.com/? | Sanjiv SinghalNaval TotlaArvind JainMitin JainAshish Agarwal ? |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Ess Kay Auto Finance Private Limited? | Rajendra Kumar Setia ? | G 1-2, New Market, Khasa Kothi ? | ? | |
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