Bravia Capital Announces Mizuho Leasing to Acquire 51% Stake in Rent Alpha

Feb 16, 2023

New York, New York - February 16, 2023 —

Bravia Capital, a privately held, family-owned private equity investment firm, recently announced that as part of its asset divestment program, Rent Alpha Private Limited, a leading and diversified player in the Indian equipment leasing industry, has entered into an agreement with Mizuho Leasing Company, Limited, one of the largest leasing companies listed on the Tokyo Stock Exchange.

Pursuant to this agreement, Mizuho Leasing will acquire a 51% stake in Rent Alpha from existing shareholders. This planned investment is expected to close after customary regulatory approvals.

"The focused approach that the company has had in building a strong and diverse book without compromising credit quality has been embraced by the market and made Rent Alpha one of the top equipment leasing companies in India. I am delighted to have Mizuho Leasing acquire a majority stake in the company, and I look forward to working alongside them on the board," said Bharat Bhise, President and CEO of Bravia Capital.

Mizuho Leasing will partner in the long-term strategy to build an even stronger and diversified play across leasing and supply chain financing to capture a vast but underpenetrated macro-opportunity in India.

Rent Alpha is currently approximately 70% owned by Bravia Capital, while the remainder of the company is owned by founders Jinesh Jain, Praveen Chauhan, and other key members of the management team.

Founded in 2013, Rent Alpha and its 100% non-bank finance subsidiary Capsave Finance have grown to become one of India's top equipment leasing companies by providing equipment rental solutions to corporate customers for IT equipment, office furniture, medical equipment, and plant and machinery.

Capsave Finance has emerged among India's fastest-growing non-bank finance companies (NBFCs) with strong financials and a diverse portfolio. Capsave's commitment to maintaining excellent asset quality is exemplified by its rating upgrades over the last several years, from ICRA BBB+ in 2018 to CRISIL A (stable) in 2022.

Rent Alpha has a rapidly expanding corporate and mid-enterprise client base, including many of India's leading corporations reflecting the strong trust and commitment these companies have in Rent Alpha.

Rent Alpha is among the most diversified players across the equipment leasing ecosystem in India, given that it leases a wide variety of equipment from IT, office infrastructure, plant and machinery, medical equipment, to business jets. With the unique value proposition Rent Alpha offers its clients through its NBFC subsidiary Capsave, it has managed to carve out a strong position for itself in the fast-growing supply chain finance segment.

With this acquisition, as a consolidated subsidiary of Mizuho Leasing, Rent Alpha Group's financing capabilities will not only get a boost but will also enable it to rapidly scale its business. The management team of Rent Alpha will be able to leverage Mizuho Leasing's extensive business experience to expand into a blue ocean of local Indian and multinational B2B companies.

"We believe India is a vast market for equipment leasing and supply chain financing with very limited penetration. Having built a strong equipment leasing company over the last nine years with the support of Bravia, we are thrilled to partner with Mizuho Leasing in our next phase of growth. Mizuho Leasing, with their global leasing experience and expertise, will help strengthen our position further and pave the way for long-term sustainable growth in the equipment leasing and supply chain financing space," noted Jinesh Jain, Founder and CEO, and Praveen Chauhan, Co-founder of Rent Alpha.

Edelweiss Financial Services Limited were advisors to Bravia Capital and Rent Alpha on this transaction. Mizuho Securities were advisors to Mizuho Leasing on this transaction.

About Bravia Capital

Bravia Capital is a privately held, family-owned private equity investment firm. Established in 2000 by Bharat Bhise, Bravia's investment portfolio has over the last 20 years included a number of transportation finance, aviation, finance, and logistics companies. The company is headquartered in New York, with offices in New York, Las Vegas, Mumbai, and Seoul.

Contact Info:
Name: Aditya Bhise
Email: Send Email
Organization: Bravia Capital
Phone: 212.935.4466
Website: https://braviacapital.com/

Release ID: 89090279

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