Money Matters Financial Services Ltd. (MMFSL), a Mumbai-based NBFC has raised Rs 445 crore at Rs 625.25 per share through Qualified Institutional Placement (QIP) to deploy in the asset financing business. Global investment firms such as Morgan Stanley, Wellington, Fidelity & GMO have picked up a 20.4 per cent stake through the deal.
“The funds is proposed to be primarily used for meeting funding requirement and capital expenditure in connection with MMFSL’s proposed asset financing business which is expected to house products such as short-term corporate funding, structured product funding, margin funding and acquisition funding to corporate.” said Rajesh Sharma, chirman and managing director of MMFSL.
MMFSL has issued about 7.1 million shares at a price of Rs 625.25 to domestic and foreign investors. Morgan Stanley, Wellington, Fidelity & GMO have put in about 60 percent of the investment.
MMFSL is debt market financial services company focused on providing advisory, consultancy and other related services to corporate and institutional clients in the areas of debt syndication, debt placement and financial restructuring.
Money Matters, through its continuously expanding service offerings, aims to offer its existing clients a wider range of services, while exploring opportunities to expand its client base. These clients span across diverse sectors including Urban Infrastructure, Telecom, Power, Steel, Hospitality, Social Infrastructure, Retail, and Financial Services.
