Other Private Equity/Strategic Investments
Neo Wealth acquires 9.9% stake in Padmaja Reddy founded gold loan firm Keertana Finserv for Rs.230-C
Mumbai-based wealth management and financial advisory firm Neo Wealth has acquired a 9.9% stake in Hyderabad-based gold loan lender Keertana Finserv for INR 230 crore. The investment was structured through the purchase of 16 million compulsorily convertible preference shares issued via a private placement. Post transaction, the shareholding of founder Padmaja Reddy has decreased to 89.6%, with the remaining equity held by employees. This investment represents the first external equity infusion for the company.Founded in 2022 by Padmaja Reddy (who earlier founded MFI Spandana), Keertana Finserv is a gold loan-focused lender that maintains a portfolio of INR 4,500 crore. The company intends to use the new capital to strengthen its balance sheet and support its expansion plans, aiming to increase its portfolio to INR 6,000 crore by March 2027.
For FY26, Keertana Finserv had reported about INR 707 Cr in Operating Income and about INR 77 Cr in PAT.
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