Spark Capital is pleased to announce the successful closure of an INR 96 Crore equity round in Visage Holdings and Finance (“Kinara Capital”, or the “Company”), through a combination of primary issuance and secondary sale of shares, to Gaja Capital, GAWA Capital and existing investors, Unitus Capital and Michael & Susan Dell Foundation. Through this transaction, existing investor, Shriram City Union Finance completely exited the Company.

Spark Capital acted as exclusive financial advisor to the Company for the transaction:

• Advised the Company on various perspectives of the business plan and developing the equity story
• Positioned the equity story attractively with the target investor community, thereby garnering significant interest at attractive pricing
• Managed complex negotiations on transaction documents between various parties
• Maintained tight control on the transaction process ensuring quick and successful closure
• Delivered favourable outcome to all stakeholders, including promoter, existing shareholders and incoming investors
  

Key Transaction highlights:

• Witnessed participation from both domestic and international investors, as well as existing and new investors
• Reinforces confidence of the investor community on the attractiveness of the MSME financing space
• Delivered successful exit to certain existing shareholders
  

With this deal, Spark continues to maintain its leadership position in the BFSI space having consummated 30 transactions aggregating to ~USD 1.7 Bn in value across various BFSI sub-segments. This transaction also underscores Spark’s commitment to bring fully integrated and holistic financial solutions dedicated to mid-market corporates across the country.

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