INSUBCONTINENT EXCLUSIVE:
with Canadian fund managers CDPQ in the first equity deal done by an NBFC since the September slowdown
in three tranches and the first investment of $150 million will be converted into equity shares after two years
The remaining $100 million would be invested in two equal tranches at the end of the first and second years of the initial investment.
The
deal has a performance link structure, so depending on the performance of the company, the stake can go up or down between 13 per cent and
19 per cent, people aware of the matter said
This would value the company at a minimum of Rs 9,500 crore which could go beyond Rs 13,000 crore.
The investment comes at a time when many
NBFCs were struggling to raise funds due to higher lending costs by banks and mutual funds after ILFS defaulted last year
capital adequacy of about 17 per cent and said that the funds raised will be used to increase growth
