MCap Fund Advisors Picks up 1% in City Union Bank

MCap Fund Advisors Pvt Ltd, a private equity firm floated by Subbu Subramaniam, ex-Partner at Baring Private Equity Partners (India) Ltd, has picked up 1 per cent stake in City Union Bank from the open market, at least two people with direct knowledge of the development told VCCircle. At the current market price, the investment is valued at around Rs 20 crore or $4.5 million. This marks the second investment for the fund, which picked up 1 per cent stake in Jyothy Laboratories Ltd from the open market, with an investment of $5 million in May this year.