Commercial vehicle financier Kogta in talks with PE funds to sell a minority stake for around ₹150 crore in growth capital, said two people aware of the development.
8th Nov,2018. RedNewswire/-
Rajasthan-based company Kogta Financial India Ltd offers financing for commercial vehicles, tractors and cars, besides loans against property, and loans to micro, small and medium enterprises. It operates across Delhi, Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh.
The fundraising will help the firm to expand its loan book and enter new geographies. Kogta was incorporated in 1996, has about 65 branches, 600 employees and 50,000 customers. It had raised an undisclosed amount in a Series A round of funding from IIFL Ventures Fund, in October 2016.
Kogta has been in talks with private equity funds to sell a minority stake for around ₹150 crore in growth capital. The fundraising will help the company expand its loan book and enter new geographies. This will be their second round of institutional funding,” said one of the people cited above, requesting anonymity. Investment bank Equirus Capital is advising the company on the fundraise, he added.