Warburg Pincus Acquires Majority Stake in Vistaar Finance, Avijit Saha Appointed as CEO
- ByStartupStory | May 29, 2023
Warburg Pincus, a global private equity firm, acquires majority stake in Vistaar Finance, an Indian non-banking financial company (NBFC) specializing in lending to micro, small, and medium enterprises (MSMEs). In conjunction with the acquisition, Avijit Saha, a seasoned professional with over three decades of expertise in retail, rural, digital banking, and SME credit, assumes the role of CEO at Vistaar Finance. Previously, Saha held key positions at ICICI Bank, including Head of Rural and Inclusive Banking and President of ICICI Foundation.
In addition to his position as CEO, Avijit Saha will collaborate with Warburg Pincus to make personal investments in Vistaar Finance. The NBFC operates across 12 states, serving approximately 40,000 customers. With a dedicated workforce exceeding 2,500 employees, Vistaar Finance manages an impressive asset under management (AUM) portfolio valued at around Rs 3,150 crore as of March 2023. Post-transaction, the company reports a net worth of approximately Rs 1,210 crore and a robust capital adequacy ratio of 37%.
Vistaar Finance specializes in providing fully secured lending solutions for a range of loan sizes, including business and housing loans. The company primarily targets small businesses, such as shops, small manufacturing units, power looms, kirana/general shops, and home-based industries. These segments often face challenges in accessing organized funding sources to fuel their expansion. Warburg Pincus LLC, the growth investor involved in the transaction, manages an impressive asset under management (AUM) of over $80 billion and possesses a diverse portfolio of more than 250 companies spanning various sectors and geographical locations.
Since its establishment in 1966, Warburg Pincus has successfully raised 21 private equity funds and two real estate funds. With a remarkable track record, the firm has invested over $109 billion in more than 1,000 companies across 40+ countries.
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