In a recent development, private equity firm Amicus Capital and several other investors have invested ₹125 crore in Equirus Group, a financial services company, through a combination of primary and secondary investments. This marks the third round of equity funding for Equirus, following an earlier investment by Federal Bank in 2018.
The fresh investment will facilitate a partial exit for Federal Bank, along with a few individual shareholders, making room for new investors. These new investors include notable names such as Kishor Patil, Ajai Kumar, N. Sivaraman, Yagnesh Dosshi, Krishna Jha, and several others, according to a statement from the company.
This infusion of capital is expected to fuel Equirus Group’s growth across its core areas, including investment banking, institutional equities, wealth & asset management, and insurance broking. The strategic investment is anticipated to open new opportunities for the firm as it continues to expand its operations.
Despite the partial exit, Federal Bank will retain a stake in Equirus, signaling its ongoing support and belief in the company’s future growth.
Ajay Garg, the managing director of Equirus Group, expressed his excitement about the new partnership, saying, “We are thrilled to welcome Amicus Capital to our team of investors. Their expertise in the financial sector will be invaluable as we continue to grow. At the same time, we deeply appreciate Federal Bank’s continued support, which has played a crucial role in our success so far.”
This latest investment highlights Equirus Group’s strong position in the financial services sector and sets the stage for further growth and expansion.
Tags: #Federal Bank
