Valiant Mauritius Invests In Shriram Housing Finance
by Irfan Khan
Valiant Mauritius Partners FDI Limited has invested in Shriram Housing Finance Limited, subsidiary of Shriram City Union Finance according to announcement on BSE.
The terms of the transaction were not disclosed, however Shriram Housing Finance had announced plans to raise R75Cr from both PE investors and the promoters by diluting 20-22% stake.
Shriram Housing is the mortgage lending arm of Shriram Group. The housing finance business was started with an initial capital of around R15Cr. The company is engaged into asset backed lending, truck finance, personal finance, insurance and real estate.
Myntra, part of the Flipkart Online Services Pvt Ltd, has acquired the online fashion platform Jabong from the Global Fashion Group. The $70 million deal will see the creation of one of the biggest online fashion platforms in India. The combined online retailers will have the distinction of becoming the largest e-commerce marketplace in the country.