Private equity firm Baring Private Equity Partners will invest over Rs 100 crore for a significant stake in InfrasoftTech, a specialist banking and financial industry IT solutions company.
This investment will be utilised for accelerating the company’s growth in both organic as well as inorganic manner, and to further build upon the strong platform and market presence which InfrasoftTech has developed.
The core competence of InfrasoftTech include retail banking, investment banking, eChannels, trading, wealth management, Islamic finance and anti-money laundering.
B&K securities represented by Rashmi Agarwal and Manoj Murarka are existing investors in InfrasoftTech, and will continue to stay invested.
Hanuman Tripathi, CEO & MD, InfrasoftTech said: “Our current investors of 12 years – Rashmi Agarwal and Manoj Murarka – have been very supportive all along our formative years and have given us free hand in growing InfrasoftTech from a very small base. In order to achieve the next level of growth, we evaluated several options including financial and strategic investors. Given Baring India’s consistent track record of having a long term view for their investee companies and helping companies to grow using their business network & processes support, we found Baring India to be most aligned with our objectives of attaining exponential growth in coming times.”
The company is looking to strengthen its footprint in the United Kingdom, Europe, Middle East, South East Asia, Africa, the United States and India. Besides the investments in product development, training and infrastructure will be accelerated to address the market needs.
“We will use Baring India’s expertise in finding right partners in the global markets to grow inorganically. We look forward to leveraging the financial muscle, sector expertise, network and brand name of Baring to build a leading platform in this space,” Tripathi said in a release.
Source : Business Standard