PE-VC Fund Investments
TPG, GIC, ICICI Bank acquire 100% stake in Aseem Infra Finance for Rs.5,000-Cr
Mint Aseem Infrastructure Finance
Global private equity firm TPG, along with GIC and ICICI Bank, has acquired a 100% stake in Mumbai-based Aseem Infrastructure Finance for INR 5,000 crore. ICICI Securities acted as the financial advisor to the sellers, Aseem Infrastructure Finance and the National Investment and Infrastructure Fund (NIIF). Shardul Amarchand Mangaldas acted as legal advisors to NIIF. EY acted as the financial advisor and Cyril Amarchand Mangaldas, Linklaters and Trilegal acted as legal advisors to TPG and GIC.Established in 2020 by the NIIF, Aseem Infrastructure Finance is a non-banking financial company (NBFC) focused on sustainable infrastructure debt financing, including power transmission, renewable energy, and other infrastructure assets in India. The company has disbursed over INR 40,000 crore in loans across critical infrastructure sectors and has funded more than 27 GW of renewable energy projects.TPG executed the investment through TPG Rise Climate, its dedicated climate platform, as part of the Global South Initiative. ICICI Bank will hold a 5% stake in the firm following the transaction.
Between May 2019 and March 2022, Aseem Infra Finance had attracted about USD 254.30 million from NIIF and others.For FY25, Aseem Infra Finance had reported about INR 1,465.92 crore in Operating Income and about INR 261.85 crore in PAT.
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