Oman India Joint Investment Fund II, a growth capital private equity fund, on Tuesday announced that it has bought a 9.9% stake in Punjab-based Capital Small Finance Bank for `84 crore. OIJIF is co-sponsored by SBI and State General Reserve Fund of Oman (SGRF).
"As part of the capital raise round, Bangalore-based mid-market private equity fund Amicus Capital Private Equity and Amicus Capital Partners India Fund invested Rs 38 crore in the bank in June 2019 and Rs 5 crore presently, taking the total capital raise of the bank to Rs 134 crore in the current round," a statement said.
Sarvjit Singh Samra, founder and managing director, Capital Small Finance Bank, said the capital raise would help the bank deepen its penetration in Punjab and expand rapidly into neighbouring regions. "The fund raise enables the bank to achieve its growth targets while remaining well-capitalised in the near term," Samra said.
Capital Small Finance Bank said HDFC Life, ICICI Prudential Life and Small Industries Development Bank of India (SIDBI) are among its investors.
Capital SFB deal marks OIJIF's fifth transaction from the second fund, the statement said.