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The round also saw participation from Baring Private Equity India, Saison Capital Pte. Ltd. and UNLEASH, along with other investors.
The deal involved acquiring stakes from existing promoters, including Chairman and CEO Neil Parag Parikh and Wealth Management President Khushboo Joshi.
In this edition, we write on Razorpay’s valuation puzzle; and we explore why private equity firms remain cautious about backing India's AI startups.
The latest sale comes just days after Actis offloaded another 0.86% stake in Pine Labs for about Rs 152 crore.
The investment round also saw participation from Shepherd's Hill Private Equity, ESV-Arthya AIF, and Roots Ventures.
The deal comprises a mix of primary and secondary capital.
![Why fintech NBFC IPOs are missing from the public market boom [Part-2]](/upload/theheadandtale.com/2026/01/1768774409_564d28329c_fintechipo.jpg)
Private market valuations, unsecured loan books and tighter regulation are forcing India's fintech lending companies to rethink their IPO plans…
The latest transaction has taken the private equity major's stake in PhonePe from 4.4% to 9%.
The IGPF-I Fund has secured capital commitments in excess of Rs 575 crore, which is above its target size of Rs 500 crore, the company said.
