Aion readies Clix for sale, in talks to hire bankers

A private ion Capital, a fund of US-based equity (PE) firm Apollo Global Management, has started the process of exiting non-bank lender Clix Capital Services, two people aware of the matter said.

- Ranjani Raghavan

Aion Capital was wound down in 2020, and Clix is one of the last investments in its portfolio.

Aion Capital is interviewing investment banks to arrange the transaction, one of the people cited above said. "It is likely to be sold to either a PE fund or an NBFC (non-banking financial company)," the person added.

The current net worth of Clix is around ₹2,000 crore, a second person said.

Aion Capital, an erstwhile joint venture (JV) between Apollo Global Management and ICICI Venture, shut operations after the JV closed in 2020. Since then, Apollo has managed the assets of Aion.

Apollo Global Management did not respond to a request for comment. Pramod Bhasin, a shareholder and chairperson of Clix Capital, declined to comment.