Private Equity

PE Fund Investments

Sistema Fund in talks to buy stake in financial products distributor Inditrade Scalerator

Business Line  

Russian fund Sistema is in talks to buy a 25% stake in Inditrade Scalerator, a wholly owned financial products distributor arm of Mumbai-based Inditrade Capital (earlier known as JRG Securities). As part of the deal, Sistema Asia Capital Pte, a Singapore entity, will value Inditrade Scalerator at around INR 200 crore. Inditrade offers financial solutions ranging from business loans, personal loans, gold loans, to insurance and credit cards. It aims to enable around 60,000 small loan transactions every day through its app iBoG. Inditrade is promoted by Sudip Bandyopadhyay, the former head of Reliance Money. Bandyopadhyay had picked up a majority stake in erstwhile JRG Securities, and renamed the company as Inditrade Capital.