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PE/VC funds to help Awfis buy out Kapoor
Mint Mumbai
|July 03, 2023
Peak XV Partners (formerly known as Sequoia Capital India) and private equity firm Chrys-Capital are among venture capital, private equity firms and family offices set to jointly back a plan by Awfis Space Solutions Pvt. Ltd to buy the entire stake of disgraced banker Rana Kapoor in the New Delhi-based operator of co-working spaces, two people familiar with the development said.
Kapoor, the former managing director and CEO of Yes Bank, is an early backer of Awfis, which was founded by Amit Ramani in 2015. Peak XV and ChrysCapital are among the existing investors.
The overall deal will be worth ₹280 crore, of which a part will be retained with Awfis, the people cited above said requesting anonymity. The company will shell out ₹250 crore in cash in lieu of equity and preference shares held by entities related to Kapoor. These shares will be extinguished by the company.
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