Amara Partners Receives Oversubscription on rs600 Crore Base Fund; enters green shoe option of upto rs200 core
Chandigarh, July 23 2025: Amara Partners, a mid-market private equity backed by anchor investor Anand Mahindra, has announced that it has received excess commitments on its ₹600 crore base fund, reaffirming investor confidence in its strategy to back India’s next generation of mid-market champions. The fund has seen participation from a marquee list of large institutional families across India. The fund is now exercising its green shoe option of up to ₹200 crore.
As part of the green shoe option, Amara has launched the Amara Leadership Circle which is a curated investor pool comprising CEOs and senior leaders of large Indian and multinational companies.
The fund will back mid-sized, promoter-led businesses across manufacturing, healthcare, financial services, and consumer sectors, which are central to India’s economic growth. With ticket sizes of $10–15 million, Amara plans to make 10–12 investments, with scope for co-investments up to $20 million. Amara has already invested in Lumax Auto Technologies and NBFC Fibe, reflecting its thesis of scaling high-potential, promoter-led platforms.
Commenting on this development, Parag Shah, Founder and Managing Partner at Amara Partners, said: “We are extremely pleased with the strong response and oversubscription to our base fund. There is a significant capital gap for mid-sized, promoter-led businesses, many of which have the vision and potential to take India’s capabilities to the global stage. Amara brings a corporate mindset to private equity, aiming to institutionalize and scale such companies, attract talent, and pursue M&A.”
The founding team of Amara Partners comprising of Parag Shah and Piyush Soonee, brings over four decades of deep experience across market cycles and investment stages, underpinned by a long-term strategic vision and a strong focus on operational excellence and corporate governance. The Team has worked closely together at Mahindra Partners where they have successfully deployed over USD 500 million and delivered more than USD 1.5 billion in returns.
Amara Partners takes a hands-on approach to value creation, supporting founders and promoters with strategic capital, operational expertise, M&A advisory, talent acquisition, and expansion into adjacent markets.
Amara’s differentiated edge lies in unlocking operating leverage on the ground by embedding seasoned professionals from India Inc. to drive efficiencies and long-term scalability.
The Firm is guided by an esteemed Advisory Board comprising some of India’s most widely respected business leaders, including Anand Mahindra, Haigreve Khaitan, M.M. Murugappan, and Rafique Malik.