Venture capital and growth-equity firm Elevation Capital (previously SAIF Partners) has acquired additional shares in listed non-banking finance company (NBFC) Muthoot Capital Services.
On Monday, it bought 2.5% stake in the company, bumping up its holding to 9.52%, going by a filing.
Elevation Capital had first acquired 3.94% stake in the company during the quarter ended December 2019.
By the end of March 2020, its shareholding stood at 4.57%, and by the end of June 2020 at 6.68%.
At the end of December 2020, Elevation Capital held 11.63 lakh shares representing 7.07% stake in the company.
In 2021, it sold shares bringing down its holding to 7.02%, after which it bought stake in the latest development bumping up stake to 9.52%.
In a separate financial sector bet, Elevation Capital invested in Aye Finance in June 2018 as part of its Series C round of funding.
It holds a 28.08% stake in Aye Finance.
In another fintech bet, Elevation Capital led a Series B round in rural lending startup SarvaGram, as reported by VCCircle earlier this month.
