Private equity fund Multiples Alternatives, together with a group of former senior bankers (Pramod Bhasin, Samir Bhatia and Vikram Gandhi), has invested over US$10 million in Vastu Housing Finance. The investment relaunches the Mumbai-based housing finance company and gives Multiple Alternatives a 95% stake.
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Vastu plans to raise an additional US$60 million over the next four years to expand its business. “This investment deal has accentuated the growing interest of private equity investors in financial services companies, especially in housing finance companies,” said Sumes Dewan, the managing partner of Lex Favios, which advised the promoters and Vastu’s new management.
The firm worked on drafting and negotiating the share subscription, share purchase and shareholders’ agreements, and related agreements. Senior associate Yeshika Dublish assisted Dewan on the deal.
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