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Ratnakar Bank in SPOTLIGHT

Aditya Birla Private Equity,Norwest Venture Partners and Faering Capital are among private equity investors buying stake worth.300 crore in Ratnakar Bank,an investment that will help it prepare for an initial public offering next year.Private equity company Norwest Ventures is promoted by Promod Haque,a famous Silicon Valley-based investor while Faering Capital is promoted by Aditya Parekh,the son of HDFC Chairman Deepak Parekh.For both,it is the second round of investment in the bank.Ratnakar will use the funds to grow loans in a country where the demand for credit still remains strong at about 17%,though far lower than the 30% or above growth before the 2008 crisis,said two people familiar with the plans.Gaja Capital,GPE (India),Argonaut Ventures,UTI invest Advisory are the other investors.

Sandip Ginodia
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