TPG, along with consortium partners ICICI Bank and GIC of Singapore has agreed to buy non-bank lender Aseem Infrastructure Finance Limited (AIFL) for Rs 40 billion as it looks to accelerate green funding and investment initiatives in the country, said people aware of the matter. The three sponsors of the NBFC will exit as part of this deal. A binding agreement will be finalised soon.
Its sponsors include the National Investment and Infrastructure Fund II, which holds a controlling 59 per cent stake. The government of India (GoI) is also a shareholder with a 31 per cent stake through a direct investment. The balance 10 per cent is held by Japan’s Sumitomo Mitsui Banking Corp (SMBC). The acquirers will be taking over the entire team, the Rs 18 billion loan book as well as the Aseem brand.
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