The non-banking financial corporation (NBFC) Auxilo, which focusses on education, recently revealed that it has invested Rs 279 crore, or $33.6 million, in LeapFrog through its investment vehicle Jade Inclusion Ltd.
The company revealed no information other than the investor names. Entrackr has examined its regulatory filings to understand information about shareholding, round break-up, and current valuation.
According to Auxilo’s regulatory filing, which was obtained from the Registrar of Companies, the board approved a special resolution to allocate 4,80,78,529 compulsory convertible preference shares (CCPs) at an issue price of Rs 58.04 per share in order to raise Rs 279 crore, or $33.6 million.
With an investment of Rs 250 crore, LeapFrog took the lead in the round, followed by Trifecta and Xponentia Opportunities Fund II with contributions of Rs 14.25 crore and Rs 14.79 crore.
The company will use the proceeds, per the filings, to cover its future capital needs as a result of its expanding assets and business. TheKredible estimates that the company’s post-allotment valuation is approximately Rs 3124 crore, or $376 million.
The biggest external stakeholders after the proceeds will be Vivek Saraogi’s Balrampur Chini Mills and Elme Advisors, with 30.7% apiece, followed by Tata Capital and ICICI Bank, with 09.61% and 8.49%, respectively. See TheKredible for the full ownership breakdown.
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