Muthoot Finance Ltd (MFL) has raised Rs.157 Cr from Baring Private Equity Partners India and Matrix Partners India.
The percentage of stake dilution for this fund raising has not been disclosed, but last year, there was an announcement by Muthoot group, that it plans to dilute a 10% stake in Muthoot Finance to PE players in FY10 and a further 25% stake through an IPO in FY12.
Now this makes me very very bullish on JRG Securities !!!
Ask me why ? well JRG is another portfolio of BEP and BEP has this unique strategy of generating value by leveraging synergies in its portolio'.
We had observed that last in the Mphasis-BFL transaction which has so much similarity to what is happening in this transaction that one seriously thinks if this Bollywood trend of remaking old movies is now spread to the PE Business as well.
Well done.... Lets see how the endgame evolves.
Cheers
Venkat
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