MICROCAPITAL STORY: New Zealand-based Billionaire’s Legatum group buys $4.5 million Stake in Indian Microfinance Firm

This story comes to us courtesy of LiveMint.com, a division of the Wall Street Journal. New Zealand billionaire Christopher Chandler’s Legatum group bought a $4.5 mn (184,500 Rs) stake in Mumbai-based Financial Information Network & Operations Ltd (FINO). Legatum is a United Arab Emirates-based investment group. Mr. Chandler’s group says that this investment will not only help spur growth in India’s microfinance industry but will also give them a strong foothold in the industry.
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