The deal will help IndoStar Capital to focus on its core strengths of vehicle financing and small business loans.
EQT typically follows a fundraising cycle that ensures a smooth transition between funds.
The BPEA EQT Mid-Market Growth Partnership (MMG Fund), the most recent fund launched by private equity company EQT, has raised $1.6 billion, more than double its initial $750 million goal.
In 2022, Sweden's EQT acquired Baring Private Equity Asia in a $7.5-billion deal to expand its Asia footprint
On July 22, Moneycontrol was the first to report that BPEA EQT had the edge over others in the race for Indira IVF.
Indira IVF was founded by Dr. Ajay Murdia in 1988 and has since then scaled from a single clinic to a nation-wide network spanning 116 centers across 20 states in India
Following EQT's acquisition of Baring PE Asia in 2022, BPEA was integrated with the EQT platform and is now known as BPEA EQT, operating as EQT's private equity business line alongside EQT's infrastructure and real estate businesses in Asia. It also holds a minority stake in private sector lender RBL Bank
On May 22, Moneycontrol was the first to report that a Baring PE EQT-led consortium was the frontrunner to pick up a majority stake of around 90 percent in HDFC Credila.
Glenmark Pharma, the parent company that holds 82.85% stake in Glenmark Life, is looking to reduce its debt burden via the stake sale process, say sources