INSUBCONTINENT EXCLUSIVE:
Mumbai: US-based stressed assets fund Lone Star and former promoter of Indiabulls, Rajiv Rattan, have formed an equally-owned joint venture
The partners have invested $200 million (Rs 1,300 crore) each in the company, RattanIndia Finance, and committed to further fund its
expansion.
RattanIndia Finance started operations in the last fiscal year
invest a further $200 million as and when required to support growth of wholesale and retail loan book
The company has roped in talents from large financial companies
Ravi Agarwal, who was previously with Edelweiss Group, has joined as head of wholesale lending
Former Capital First executive Amit Mande is head of retail lending, while Manish Chitnis, who previously worked at Fullerton, is leading
identifying value and opportunity in markets around the world
The capital strength of RattanIndia Finance will immediately make it a key lending platform for corporates and retail (customers)," said
years due to high level of NPAs, and are unlikely to play an active role in next 3-4 years, there is good opportunity for finance companies
