The PE firm invested Rs 132 crore in the NBFC through a rights issue on March 28.
Special situations investment firm SSG Capital Management has acquired 46.87% stake in Shapoorji Pallonji Finance Pvt. Ltd, a non-banking financial company
SSG acquired the stake in the NBFC, part of the reclusive billionaire Pallonji Mistry-led Shapoorji Pallonji Group, in March, rating firm Crisil said in a recent note.
The PE firm invested Rs 132 crore in the NBFC through a rights issue on March 28, Crisil said
Sharad Bajpai, managing director at SSG Capital Management (Hong Kong), and Shyam Maheshwari, co-founder of SSG Capital Management, have joined the NBFC’s board.
Incorporated in 1994, Shapoorji Pallonji Finance has been a dormant entity for the past few years. The company’s loan book was Rs 317 crore as on 31 December 2017, up from Rs 58 crore on 31 March 2017, the Crisil report showed.
The company offers structured financing solutions to corporate and real estate sectors which includes corporate loans, loan against shares, development financing, structured and mezzanine financing and special situations, according to its website.