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Spotlight: What went wrong with Warburg-backed Fusion Finance as stock slumps

VCCircle

VCCircle · 10m ago

Spotlight: What went wrong with Warburg-backed Fusion Finance as stock slumps

Private equity firm Warburg Pincus invested in Indian microlending firm Fusion Finance in December 2018. However, the stock has recently slumped, and there are concerns about what went wrong. Devesh Sachdev, MD & CEO of Fusion Finance, has been under scrutiny due to the company's poor performance. Despite Warburg Pincus' initial investment facilitating Fusion's growth, there are questions about the firm's ability to deliver returns to its investors.

Related News

How Partners Group, BII booked a big loss on logistics bet but Warburg eked out a profit

VCCircle

VCCircle · 4m ago

How Partners Group, BII booked a big loss on logistics bet but Warburg eked out a profit

Partners Group and British International Investment, a UK-backed finance institution, incurred significant losses by selling their stakes in an Indian logistics firm, while Warburg Pincus, a US-based private equity firm, managed to secure a profit.

My parents refuse to keep car due to BluSmart, they'll be heartbroken: Ex-Google MD

Inshorts · 4m ago

My parents refuse to keep car due to BluSmart, they'll be heartbroken: Ex-Google MD

Ex-Google MD Parminder Singh reacted to the BluSmart row regarding fund diversion, saying his elderly parents have "unwavering faith" in the ride hailing app. "They refuse to keep a car...saying, 'BluSmart hai na (There's BluSmart)'," Singh said. "I don't know exactly what went wrong but...they'll be heartbroken when I say, 'Ab BluSmart nahi hai (There's no BluSmart anymore)'," he added.

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

VCCircle

VCCircle · 1y ago

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

UAE sovereign fund Mubadala is reportedly in talks to partner with Warburg Pincus for the purchase of a majority stake in Shriram Housing Finance, a subsidiary of Shriram Finance. Meanwhile, Brookfield Asset Management is considering listing Leela Palaces as it seeks to expand its hospitality business in India. Mubadala is said to be exploring multiple investment opportunities in the Indian market, while Warburg Pincus and Bain Capital are also contenders for the Shriram Housing Finance deal.

Manappuram, Fusion, IIFL Finance, Repco Home shares fall up to 6% today; stock price targets

Business Today

Business Today · 6m ago

Manappuram Finance Ltd's shares fell by 6.4% to Rs 181.80 on the BSE. IIFL Finance saw a decline of 2.73%, dropping to a low of Rs 322.30. Similarly, Fusion Finance's shares decreased by 3.86%, reaching Rs 163 on the BSE. The stock market witnessed a downturn in these financial companies, reflecting fluctuations and investor responses to prevailing market conditions.

Warburg Pincus-controlled Vistaar Finance in talks with PE firms for fundraising

VCCircle

VCCircle · 8m ago

Warburg Pincus-controlled Vistaar Finance in talks with PE firms for fundraising

Vistaar Finance, a non-banking finance company controlled by Warburg Pincus, is in discussions with private equity firms for raising funds. The company, which operates as Vistaar Finance and provides secured loans to micro and small businesses, is looking to secure fresh capital.

Warburg, True North-backed Home First Finance raises $146 mn

VCCircle

VCCircle · 4m ago

Warburg, True North-backed Home First Finance raises $146 mn

Home First Finance, backed by Warburg Pincus and True North, raised Rs 1,250 crore ($146 million) through an equity shares qualified institutional placement. Issuing 13 million shares, this marks its first equity fundraising since its 2021 IPO. The renowned foreign and domestic investors participating included International Finance Corporation and HDFC Asset Management Company. CEO Manoj Viswanathan stated this capital will bolster Home First’s capital base, enhancing expansion and customer engagement in affordable housing finance.

Spotlight: Can Warburg-backed insurer IndiaFirst pick up pace after dropping IPO plan?

VCCircle

VCCircle · 10m ago

Spotlight: Can Warburg-backed insurer IndiaFirst pick up pace after dropping IPO plan?

- IndiaFirst Life Insurance Company Ltd recorded higher earnings and new business premium for the year through March 2024. - The company let regulatory approval to float an initial public offering lapse earlier this year. - The Warburg Pincus-backed insurer experienced a drop in other key metrics, affecting its profit outlook. - Despite the challenges, IndiaFirst Life Insurance is expected to pick up pace and improve its performance. - The spotlight is on the company's CEO, Rushabh Gandhi, and his strategy to steer the insurer back on track. - The decision not to proceed with the IPO has raised questions about the company's future plans and growth trajectory.

Avanse Financial shortlists bankers ahead of IPO; GMR Airports raises debt

VCCircle

VCCircle · 1y ago

Avanse Financial shortlists bankers ahead of IPO; GMR Airports raises debt

Avanse Financial Services, backed by Warburg Pincus, Kedaara Capital, and the International Finance Corporation, has shortlisted six bankers for its upcoming IPO. The Mumbai-based education loan non-banking company plans to raise Rs 4,000 crore through the IPO. Kotak Mahindra has been chosen as one of the shortlisted bankers. In another news, GMR Airports has raised debt for its ongoing airport expansion projects.

Warburg Pincus wins a heated race for Shriram Group’s housing finance biz

Livemint

Livemint · 1y ago

Warburg Pincus wins a heated race for Shriram Group’s housing finance biz

US-based investment firm Warburg Pincus has acquired a controlling stake in Shriram Housing Finance, a subsidiary of Shriram Group, for INR 46.3bn ($640m). The deal marks Warburg Pincus's largest investment in India to date and positions the company in the country's affordable housing finance sector, which is expected to expand at a compound annual growth rate of 12-14% by 2025. Shriram Housing Finance will continue to operate as a stand-alone entity, with the existing management team remaining in place. The transaction is set to be completed by 7 February 2025.

Warburg Pincus lifts stake in India financial services portfolio firm

VCCircle

VCCircle · 3m ago

Warburg Pincus lifts stake in India financial services portfolio firm

Warburg Pincus, a prominent private equity firm, has increased its investment in an Indian financial services company it initially supported over six years ago. Warburg, known for its active role in India, has a history of investing in various Indian banks and non-banking financial companies such as IDFC First Bank, Home First Finance, Vistaar Finance, and Avanse Financial. This move signifies Warburg's continued commitment to the Indian financial sector.

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