Latest news with #IKF
Mint
15-05-2025
- Business
- Mint
IKF Finance raises ₹1,465 crore from Norwest and Motilal Oswal Alternates
IKF Finance, a non-banking financial company based in Hyderabad, has raised around ₹ 1,465 crore ($175 million) from global investment firm Norwest and existing investor Motilal Oswal Alternates, the company announced on Thursday. The round, IKF's largest to date, included both primary capital and a secondary component, it added. Mint first reported in September 2024 that IKF's promoters and investors were exploring a controlling stake sale that could value the company at $200-250 million. The company did not confirm its valuation after the round. Norwest led the latest round with an investment of more than $100 million. MO Alternates, which first invested in IKF in 2015, has reinvested 'post making stellar returns', the company said. Founded in 1991 by V.G.K. Prasad, IKF Finance operates across nine Indian states, offering secured loans including used commercial vehicle loans and financing for micro, small and medium enterprises (MSMEs). Its subsidiary, IKF Home Finance, provides affordable housing loans and loans against property. As of March 2025, the company had a loan book of about ₹ 6,700 crore. Promoters held a 42.84% stake as of 31 December, followed by two funds (India Business Excellence Fund II – 11.12%, and IIA – 18.60%) managed by Motilal Oswal Private Equity. As much as 7.96% of the company is held by Accion Digital Transformation Fund, and another 7.96% by Teachers Insurance and Annuity Association of America. 'This is a key milestone in our journey to expand access to inclusive, flexible financial solutions for underserved communities,' said Prasad. The company plans to use the funds to strengthen its distribution network, and invest in technology and people to scale its lending operations to a wider range of customers, according to K. Vasumathi Devi, managing director, IKF Finance. 'Our investment reflects strong confidence in IKF's responsible lending track record, governance, and deep commitment to underserved borrowers,' said Nikhil Kookada, principal at Norwest.
Mint
15-05-2025
- Business
- Mint
IKF Finance raises ₹1,465 crore from Norwest and Motilal Oswal Alternates
IKF Finance, a non-banking financial company based in Hyderabad, has raised around ₹ 1,465 crore ($175 million) from global investment firm Norwest and existing investor Motilal Oswal Alternates, the company announced on Thursday. The round, IKF's largest to date, included both primary capital and a secondary component, it added. Mint first reported in September 2024 that IKF's promoters and investors were exploring a controlling stake sale that could value the company at $200-250 million. The company did not confirm its valuation after the round. Norwest led the latest round with an investment of more than $100 million. MO Alternates, which first invested in IKF in 2015, has reinvested 'post making stellar returns', the company said. Founded in 1991 by V.G.K. Prasad, IKF Finance operates across nine Indian states, offering secured loans including used commercial vehicle loans and financing for micro, small and medium enterprises (MSMEs). Its subsidiary, IKF Home Finance, provides affordable housing loans and loans against property. As of March 2025, the company had a loan book of about ₹ 6,700 crore. Promoters held a 42.84% stake as of 31 December, followed by two funds (India Business Excellence Fund II – 11.12%, and IIA – 18.60%) managed by Motilal Oswal Private Equity. As much as 7.96% of the company is held by Accion Digital Transformation Fund, and another 7.96% by Teachers Insurance and Annuity Association of America. 'This is a key milestone in our journey to expand access to inclusive, flexible financial solutions for underserved communities,' said Prasad. The company plans to use the funds to strengthen its distribution network, and invest in technology and people to scale its lending operations to a wider range of customers, according to K. Vasumathi Devi, managing director, IKF Finance. 'Our investment reflects strong confidence in IKF's responsible lending track record, governance, and deep commitment to underserved borrowers,' said Nikhil Kookada, principal at Norwest. Moelis & Company and Unitus Capital acted as financial advisors to IKF Finance. Cyril Amarchand Mangaldas served as legal counsel to IKF and MO Alternates, while Shardul Amarchand Mangaldas advised Norwest.
Yahoo
13-05-2025
- Sport
- Yahoo
Former Yankees Starter Isiah Kiner-Falefa Has Heartfelt First Family Meeting
Isiah Kiner-Falefa seems to make a positive impact wherever he goes, with the former Yankee establishing a reputation as a hard worker and flexible utility player. Currently with the Pittsburgh Pirates after a year-long tenure with the Toronto Blue Jays, IKF is experiencing a nice renaissance with a .288 batting average, .704 OPS and an 89th percentile whiff %. Advertisement The Hawaii native also has familial connections to late Hall of Famer Ralph Kiner, who spent eight of his 11 MLB seasons with the Pirates. IKF, always a class act, enjoyed a touching pregame ceremony prior to the Pirates' 4-3 loss to the New York Mets on Monday. Pittsburgh Pirates shortstop Isiah Kiner-Falefa records an out at second base and throws to throws to first against the Kansas City Royals at PNC Park on Sept. 13, LeClaire-Imagn Images IKF met Scott Kiner, Ralph's son, in a press conference prior to Monday's game, and was presented with a charcoal painting of the baseball legend following a jersey swap. Kiner verified through genealogy that him and the Pirates infielder are cousins, as Scott's great-great grandmother is IKF's great-great-great grandmother on his mother's side. Advertisement The moment was especially full-circle given that IKF currently plays for the Pirates, where Ralph hit 301 home runs and has a retired #4 jersey. The moment also took place in the underbelly of Citi Field, and Ralph worked Mets broadcasts from 1962 until 2013. 'I just try to wear the name with a lot of pride, and now having the opportunity to play for the Pirates, it's very special to me,' said Kiner-Falefa. IKF also recalled attending a Mets game in 2007 which just so happened to be Kiner Night to honor the legendary broadcaster. IKF has also mentioned that he hopes to take the broadcasting route once his playing career has ended. Advertisement Scott is in the middle of a promotion for his book 'One of a Kiner' which details his father's life. 'This is like a happy ending in the book,' Kiner said. 'This is pretty cool.' Related: Paul Skenes Makes Huge WBC Announcement After Latest Loss Related: Yankees Announcer Rips Pirates for Failing Paul Skenes Related: Pirates Sign Former First-Round Pick After Paul Skenes Comments
