Madison India Opportunities along with its affiliates (“Madison”) invested in the secondary transactions from certain existing selling shareholders of Finova Capital Private Limited (“Finova”) and Finova’s Series E funding round, along with other investors such as Sofina Ventures SA, Avataar Venture Partners II etc. The round size was approximately INR 1,135 crore.
Finova offers a wide range of financial products and services tailored to the unique needs of MSMEs, including working capital loans, machinery loans, business loans, and more. With more than 400 branches, Finova operates in 16 states, including Rajasthan, Madhya Pradesh, Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, and Himachal Pradesh.
Nishith Desai Associates, acted as the transaction counsel for Madison and advised them on legal and regulatory aspects, including negotiation and finalization of the transaction documents and closing of the round.
The deal team consisted of
_20241106133626_original_image_43.webp)
 (850 x 600 px) (30)_20241105100045_original_image_16.webp)
