Kinara Cap scouts for buyers

The firm, hit by bad loans and a liquidity crunch, is seeking strategic investors including fintechs and NBFCs

- Shayan Ghosh

Plans to sell some of the loans did not work out, says founder Hardika Shah

Crisis-hit non-bank financier Kinara Capital is tapping strategic investors -fintech and other non-banking financial companies (NBFCs)-to pump in funds in exchange for a majority stake in the company, founder and chief executive Hardika Shah said.

Shah hopes to raise a few hundred crores by selling a majority stake in the business, helping the company restart lending. "Putting myself in their shoes, I would see this as a strategic investment, which means they would want full control of which direction to take that entity," she said in an interview, declining to share names since the conversations are at a preliminary stage.