PE Fund Investments
InsuranceDekho raises Rs.300-Cr led by Goldman Sachs
Jaipur-based CarDekho's insurance unit InsuranceDekho (operated by Girnar Insurance Brokers Pvt. Ltd.) has raised INR 300 crore (USD 36.5 million) led by West Street Global, an investment arm of Goldman Sachs group. This is the first external investment round for the Gurugram-headquartered company. The company would issue 1,49,16,506 equity shares at a price of INR 201.12 each to raise INR 300 crore. West Street Global led the round with INR 153.5 crore while the TVS Capital Funds invested INR 72.35 crore. Investcorp, Avataar Venture Partners, Alstroemeria Investments, and individual investors such as Vineet Dhingra, N Laxmi Narayan, Shridham Sons, and others collectively participated with INR 74.15 crore. Post-investment, West Street Global holds a 14.71% stake in the firm while TVS Capital, Avaatrar Venture Partners, and Investcorp command 6.95%, 2.69%, and 1.44% respectively. The company has been valued at around INR 1,100 crore (USD 135 million), post-allotment. InsuranceDekho was launched in 2019 and aims to make it easier for customers to compare and buy motor and health insurance. The firm posted a revenue of INR 47.91 crore in FY22, up from INR 29.71 crore in FY21.
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