Cholamandalam Investment And Finance Company is raising R212Cr from Renuka Ramnath's Multiples Alternate Asset Management and Creador Capital.
Multiples Alternate Asset Management and Creador Capital are investing R106.04Cr by subscribing to 6.6Mn shares each. The deal values Cholamndalam around R2120Cr or 15% higher than it's current market cap of R1813Cr.
Investment Details
| Investor | Shares Subscribed | Size |
| Multiples Private Equity FII I | 4813718 | 77.02 |
| Multiples Private Equity Fund | 1814009 | 29.02 |
| Creador 1 LLC | 6627727 | 106.04 |
Cholamadalam Investment is Murugappa Group's financial services arm with 342 branches across India. It provides vehicle, home equity and business finance. The company has AUM of over R10,971Cr.
The name of the company was changed from Cholamandalam DBS Finance Limited to Cholamandalam Investments in April 2010, when Murugappa group bought DBS Bank's 37.48% stake in CIFCL for R376Cr through its group companies - Tube Investments of India Ltd and New Ambadi Estates Pvt Ltd.
Creador Capital was formed by Brahmal Vasudevan, former MD of Chrys Capital. The fund which is looking to raise upto $350Mn for it's maiden PE fund will invest in in South-East Asian countries like Indonesia and Malaysia, besides India.
Multiples Alternate Asset Management was founded by Renuka Ramnath in January 2011. Multiples has two funds - a domestic fund and an international fund. Last year in August, Multiples invested R100Cr in oilfield equipment maker Sara Sea. It has also sought FIPB approval for acquiring a minority stake in Indian Energy Exchange.
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4134
3846
945
4260
973
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17649
42
1677
25526
3005
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1369
459
3151
32715
140
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24632
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 01/02/12 |
Cholamandalam Investment -Multiples PE, Creador Capital |
Private Equity |
Creador Capital |
43.12 |
| 29/07/10 |
Cholamandalam Investment - Fund Raising |
IPO / Offerings |
Looking For |
53.65 |
| 01/03/10 |
DBS Bank (Exit) - Cholamandalam Investment - Murugappa group |
M&A |
Murugappa Group |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 11/05/12 |
M&A |
Warburg Pincus International |
Future Capital Holdings Limited (Co.) |
- |
Planned |
| 08/05/12 |
M&A |
AEGON |
Aegon Religare Life Insurance Company Limited |
- |
Rumor |
| 08/05/12 |
M&A |
HCL Group |
DLF Pramerica Life Insurance Company Limited |
- |
Planned |
| 02/05/12 |
Private Equity |
International Finance Corporation |
MAS Financial Services Limited |
12.00 |
Planned |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| Multiples Alternate Asset Management Private Limited |
375 |
Sector Agnostic |
|
Dinesh TiwariNithya EaswaranPrakash NeneRenuka RamnathSudhir VariyarSridhar SankararamanAbhijit Dhal
|
| Creador Capital |
|
BFSI |
|
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Cholamandalam Investment and Finance Company Limited |
M A Alagappan |
Dare House, No.2, NSC Bose Road, Parrys, Chennai-600001. Tamil Nadu, India. |
|
www.cholamandalam.com |
