Belstar Microfinance Limited announced that it has entered into a definitive agreement for a private placement of shares for gross proceeds of INR 3,500,000,000 led by new investor Affirma Capital Managers (Singapore) Pte Ltd on August 25, 2021. The transaction will include participation from Augusta Investments IV PTE. Ltd, fund managed by Affirma Capital Managers (Singapore) Pte Ltd for INR 750,000,000, new investor Arum Holdings Limited for INR 2,250,000,000, returning investors Muthoot Finance Limited for INR 280,000,000 and Maj Invest Financial Inclusion Fund II K/S, fund managed by Maj Invest Equity A/S for INR 220,000,000. The transaction will be subject to required regulatory approval including from the Reserve Bank of India. The transaction is expected to close within 3 months. Vijay Nallan Chakravarthi from Affirma Capital Managers (Singapore) Pte Ltd will join company's board of director.