Samunnati Financial Intermediation & Services Pvt. Ltd, the non-banking financial company has raised Rs 150 crore ($23.5 million) in a Series C round of funding from responsAbility investments and existing investors Elevar Equity and Accel Partners.The investment was done by way of subscription to 100 equity shares and 317,423 compulsory convertible preference shares of...
Samunnati Financial Intermediation & Services Pvt. Ltd, the non-banking financial company has raised Rs 150 crore ($23.5 million) in a Series C round of funding from responsAbility investments and existing investors Elevar Equity and Accel Partners.
The investment was done by way of subscription to 100 equity shares and 317,423 compulsory convertible preference shares of Samunnati.
responsAbility Investments was advised by Khaitan & Co and its team was led by Partner Bharat Anand, Principal Associate Aditya Patni and Associate Abin Francis with assistance from their due diligence team represented by Associates Akshay Sharma and Akhil Sharma, along with Associate Director Vinita Krishnan and Associate Ankit Namdeo who handled the direct tax aspects of the transaction.
IndusLaw represented Samunnati Financial Intermediation & Services in the transaction as their legal advisors.
Akshay Dua, responsAbility’s Asia Pacific head of private equity for agriculture and food sectors, will join the board of Chennai-based Samunnati, post the investment made.
“Agriculture and food is one of the key focus sectors for responsAbility globally and this is the first investment from our recently closed food and agriculture private equity fund,” Dua stated in a press release.