DMI Finance has acquired 16% stake in Alchemist Asset Reconstruction Company. The terms of the transaction were not disclosed, however according to a report on ET, the deal size is estimated to be about R32Cr.
Alchemist ARC is in the business since 2002. It claims to have over 100 years of cumulative experience in the banking domain across international and domestic banks such as Citigroup, SBI, ICICI, Dhanalaxmi, and Bank of Tokyo- Mitsubishi.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.