Sukumar’s stake has risen to 11.5% from below 7% before this investment in the company in which US based private equity Creation Investments Capital Management LLC, Liechtenstein royal family backed Lightrock Investments and homegrown TVS Capital own 76% stake.
“From April onwards, Vivriti Next will be the new operating and holding company which will also allow us to offer new products to our mid-market clients including capital markets, advisory and technology solutions,” said Sukumar who co-founded the company in 2017 with an initial investment of Rs 33 crore said.
Creation Investments is the largest shareholder in the company with 48% stake, followed by Lightrock with 20%. The company has a lending book of Rs 10,784 crore at the end of December with average ticket size of Rs 25 crore. It’s private credit asset management business Vivriti Asset Management which started in 2019 has a total book size of Rs 4548 crore with investments from UK’s M&G Investments, British International Investment (BII), Germany’s DEG, World Bank’s IFC and local investors SIDBI and NABARD.
Sukumar said the company expects a 25% growth in profits in the short term even as the change in the business model will increase the percentage of fee income to 7% to 8% of total revenues from about 3% of Rs 1600 crore revenue the company made in the first nine months of the current fiscal year.
