IKF Finance gets Rs 1,465-cr PE funding

Mumbai: Private equity (PE) fund Norwest on Thursday announced that it has led a Rs1,465-crore investment in the Hyderabad-based non-bank lender IKF Finance. The investment includes both primary share issuances and also secondary transactions, according to a statement. Norwest has led the round with a $100 million or about Rs850 crore investment, it said. The company, founded in 1991, operates in nine States, offering secured retail loans and credit for small businesses. It also gives loans against property and affordable home finance through a home finance subsidiary.