Anagram Partners has advised CVC Capital Partners on its entity, Aquilo House, acquiring a majority 26.47% stake in Aavas Financiers for INR34 billion (USD404.8 million). An open offer is currently underway which makes the entire deal worth INR70.1 billion.
The acquisition involved 2,09,49,112 shares owned by Lake District Holdings, an affiliate of Kedaara Capital, Partners Group ESCL and Partners Group Private Equity.
Partners Shuva Mandal, Ankit Mishra and Rajesh Simhan led the Anagram team, with the assistance of principals Aashna Kothari and Karan Nelivigi, senior associates Ashana Shah and Sarthak Parnami, and associates Anoushka Shetty and Siddhant Sahu.
The deal also involved CVC making an open offer of INR36 billion to public shareholders of Aavas Financiers to acquire an additional 26%.
Established in 2011, Aavas Financiers is one of India’s leading housing finance companies focused on lending to underserved and underreached markets in the country.
CVC is a global management firm focused on private markets managing hundreds of billions worth of assets worldwide in a number of funds.
