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JSA, Khaitan on NBFC Belstar $28m raise from Muthoot, Maj Invest

Denmark-based Maj Invest Financial Inclusion Fund together with existing strategic shareholder, Muthoot Finance have invested around Rs 202.6 crores ($28m) in NBFC-MFI, Belstar Investment and Finance Private Limited, as reported by Business Standard. As per the reports, Maj has picked up an 11% stake in the company while Muthoot Finance has increased its stake from 71% to 74%, post the fund infusion.

J Sagar Associates (JSA) acted as the legal advisors to Belstar Investment and Finance led by partners Aarthi Sivanandh and Bhavana Alexander.

Khaitan & Co represented Maj Invest Financial Inclusion Fund in the fundraising.


This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing. If you are or know one of the lawyers who acted on this deal but has not been credited, please leave a comment below (marked not for publication), preferably with your name and email address, and we will update the report.

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