Markets | Ramnath’s Multiples Asset raises $250 mn

Markets | Ramnath’s Multiples Asset raises $250 mn

Mumbai: Private equity firm Multiples Alternate Asset Management, founded by former ICICI Ventures managing director and chief executive officer Renuka Ramnath, on Thursday announced the first closure of $250 million (Rs1,110 crore) of its first fund that has a target of $450 million.

“We plan to invest Rs100-150 crore per deal," Ramnath said.

Indian Overseas Bank and Andhra Bank are the anchor investors in the domestic component of the fund while Canada Pension Plan Investment Board and CDC Group are anchor investors in the international fund.


Exim Bank bond issue raises $200 million

Mumbai: Export-Import Bank of India (Exim Bank) on Thursday said its $200 million (Rs888 crore) overseas bond issue was completed successfully on Wednesday. The bond was subscribed four times, the bank said.

The five-year bond issue, which has a coupon rate of 1.79% over the London interbank offer rate, was completed within eight hours of launch, the bank said, adding that it sold the bonds primarily to asset management firms, banks, pension funds and insurance companies. Over 67% of the issue was bought by Asian investors, with the remainder going primarily to European investors.

— Anup Roy


GMR Infra share sale to raise $250 million

Mumbai:GMR Infrastructure Ltd plans to raise $250 million (Rs1,110 crore) by selling shares at Rs62.20 each to institutional investors. The issue opened after market hours on Thursday and is likely to close on Friday.

Bank of America-Merrill Lynch is the lead manager to the issue supported by Axis Bank Ltd, ICICI Securities Ltd and IDBI Capital Market Services Ltd.

— Joel Rebello