CAM, AZB & SAM advised Ess Kay, TPG & Norwest Venture Partners X-Mauritius to invest in Ess Kay Fincorp Limited
Cyril Amarchand Mangaldas (CAM) acted as the legal counsel to Ess Kay Fincorp (Ess Kay) on its Series E fund raise from existing investors TPG Growth IV SF Pte. Ltd. (TPG), Norwest Venture Partners X-Mauritius (NVP) and Evolvence India Fund III Ltd. (Evolvence).
Shardul Amarchand Mangaldas & Co. (SAM) advised Norwest Venture Partners X-Mauritius ("NVP") on its follow-on investment in Ess Kay Fincorp Limited ("Ess Kay"). AZB & Partners advised TPG.
As part of this round of investment, Ess Kay raised a total Rs 337 crore from existing investors NVP, TPG Growth IV SF Pte. Ltd ("TPG") and Evolvence Indian Fund III Ltd. and its promoter Rajendra Setia.
Ess Kay, founded in 1994, is a registered non-banking finance company and is headquartered in Jaipur. Being one of the largest unlisted used vehicle financiers, the Company provides collateralised loans to low-income, self-employed individuals in rural and semi-urban India.
It primarily funds used CVs/Tractors/Cars, Two Wheelers (new) and provides business loans to SMEs. Ess Kay operates through a network of 350+ branches in 8 states and has an AUM of INR 34 billion with 1,85,000 customers.
The CAM transaction team was was led by Vandana Sekhri, Partner; and Aditi Manchanda, Partner; with support from Mahesh Wasadikar, Principal Associate; and Subham Jain, Trainee – Legal.
The SAM Transaction team was led by Puja Sondhi, Partner and comprised of Aakanksha Dalal, Senior Associate, Meghna De, Associate, and Harjas Singh, Associate.
The Transaction was signed on May 6, 2021 and closed on May 12, 2021.