In order to expand its distribution footprint across the country through a hybrid model of distribution i.e. physical and online, Bajaj Capital plans to raise funds from a private equity fund.
The 50-year old financial distribution company is in initial talks with Hong Kong-based private equity firm, Mosaic Capital Asia to sell a minority stake. The company is also looking at other investors.
Sharing the rationale behind raising funds, Rajiv Bajaj, Chairman, Bajaj Capital said, “We are in talks with a few investors to raise capital by selling minority stakes. With this capital, we aim to expand our distribution outreach across the country. We want to reach out to untapped markets through physical presence and leverage digital technology to accelerate growth.”
The company is planning to raise close to Rs.250 crore from investors.
In fact, the company has re-constituted its board comprising global wealth management experts. The board includes four new members - Mark Collier, Former CEO, Charles Schwab International who helped build Fidelity International and Charles Schwab Technology Platform, Peter Smyth, Founding Partner & CO-CEO, Mosaic Capital Asia, Rajesh Relan, Entrepreneur, who has been the Head Bancassurance, Asia at MetLife Asia Limited after being the MD - Metlife, India and Hemant Tanna, Founding Partner CFO & COO, Mosaic Capital Asia.
Rajiv Bajaj, Sanjiv Bajaj and Anil Chopra will continue to be on this board.
