Private firms Legatum and Aavishkaar Goodwell have agreed to a joint equity investment of USD 27 mm in the capital shareholdings of SHARE Microfin Limited (SML), a microfinance institution (MFI) of India. With a USD 25 mm share of the equity investment, Legatum gains the majority interest of SML, while Aavishkaar Goodwell acquires a minority interest in the MFI with USD 2 mm. The equity investment reaches a record high for Indian SMLs, becoming the largest equity investment of capital ever received by an Indian MFI. SML speculates that the new finances will provide an additional five million loans across five years.
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