Amicus Capital, others infuse Rs 125 crore into Equirus Group, enable Federal Bank's partial exit

The new investments will enable a partial exit for Federal Bank and some individual shareholders, making way for Amicus Capital and new investors

Private equity firm Amicus Capital and a few other investors have invested Rs 125 crore in financial services firm Equirus Group through a mix of primary and secondary investments, the latter announced in a company statement.

The investment is the third equity infusion in the late Rakesh Jhunjhunwala-backed company after the investment by Federal Bank in 2018, the statement said.

The new investments will enable a partial exit for Federal Bank and some individual shareholders, making way for Amicus Capital and new investors, including Kishor Patil, Ajai Kumar, N. Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, Deepak Singhal, and others, the statement said.

“This strategic investment is expected to open new avenues as Equirus continues to grow its investment banking, institutional equities, wealth & asset management, and insurance broking businesses,” it said.

Federal Bank will continue to remain a shareholder, continuing its support and involvement in the company’s future development.

“We are excited to welcome Amicus Capital to our team of investors and look forward to leveraging their expertise in the financial sector. At the same time, we are grateful for Federal Bank’s ongoing support, which has been instrumental in our journey so far,” said Ajay Garg, managing director of Equirus Group.