Motilal Oswal PE Pumps Rs 40 Crore In Minda Ind (23-Feb-2010)
Motilal Oswal Private Equity (MOPE) Advisors has invested Rs. 40 crore in Minda Industries (makers of auto component).
Mr. Rakesh Sony, Director of MOPE said the company is raising this amount from the Motilal Group PE by issuing 1.83 lakh cumulative compulsorily convertible preference shares (CCCPS). Each share was bought at Rs. 218.7.
Mr. Sony said this investment by MOPE has been made through its India Business Excellence Fund. The $125-mn fund from Motilal Oswal Group provides equity for small and medium-sized companies.
During the past 3 years, the company has invested more than Rs. 100 crore in building capacities for newer products.
Mr. Nirmal Minda, MD of Minda Industries said in India, the company has been successful in creating exclusive relationships with world-class automakers such as - Volkswagen. This investment from funds managed by MOPE at this stage will help the company strengthen its leadership position in the existing products and grow its new products/services aggressively.
Motilal Oswal Securities Ltd. was founded in the year 1987 as a small sub-broking unit.
Today the company is well diversified financial services firm offering a range of financial products and services such as - Wealth Management, Broking & Distribution, Commodity Broking, Portfolio Management Services, Institutional Equities, Private Equity, Investment Banking Services and Principal Strategies.
The company is headquartered in Mumbai and has a network spread over 581 cities and towns comprising 1,293 Business Locations operated by our Business Partners and the Group. The company has 605,986 registered customers.
Motilal Oswal Financial Services reports 82% growth in net profit at Rs. 37 Crores for Q3 FY 2010.
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