Khaitan & Co, SNG & Partners act on Mahaveer Finance ₹200 crore Series C fundraise

Mahaveer Finance India Limited has raised ₹200 crore from a Series C fundraise led by Elevation Capital.

The round also saw participation from First Bridge India Growth Fund and Banyantree India Growth Capital Fund.

Khaitan & Co advised Mahaveer Finance on this fundraise.

The transaction team consisted of Sanchit Agarwal (Partner), Prerna Kapur (Senior Associate), Harshita Saraf (Senior Associate) and Shivangi Mishra (Associate).

SNG & Partners advised existing investor BanyanTree India Growth Capital Fund and BanyanTree Growth Capital II LLC on this fundraise.

The transaction team was led by Aditya Vikram Dua (Partner and Head of Financial Services), with support from Aniket Sawant (Associate Partner) and Shivansh Jain (Associate).

Mahaveer Finance is a growing non-banking finance company (NBFC) based in Chennai, primarily engaged in the hypothecation of used commercial and passenger vehicles. With over 60 branches across four states, the company serves more than 15,000 active customers, showcasing its significant presence in the used vehicle financing sector. Established with a strong track record, Mahaveer Finance focuses on providing automotive loans and asset finance services.

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