Business

Mumbai NBFC Money Matters Financial Services raises Rs 445 Crore through QIP

Money Matters Financial Services Ltd. (MMFSL), a bombay headquarterd NBFC has raised about Rs 445 Cr (US$ 100 Millionn) 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 have picked up a 20.4%  stake in the NBFC through this deal.

“The funds will be be primarily used to meet the 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 Mr Rajesh Sharma, CMD and CEO of MMFSL.Money Matters Financial Servces

MMFSL (http://www.money-matters.in) has issued about 71 lakh shares at a price of Rs 625.25 to domestic and foreign investors. Morgan Stanley, Wellington, Fidelity & GMO have provided about 60% of the funding.

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.

“We intend to grow services related to our core debt market practice while building other business verticals such as investment banking, private equity funding and asset financing,” added Mr Sharma.

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.

About Money Matters Financial Services Ltd. (MMFSL)

MMFSL is registered as a non deposit taking NBFC primarily focused in the business of financial advisory services to corporates and institutional clients in the areas of debt syndication, debt placement and financial restructuring. It also provides merchant banking & broking services through its subsidiaries. MMFSL has about 98 employees as of June 30, 2010 and operates out of Mumbai, Delhi and Bengaluru. MMFSL also provides, either directly or through our subsidiaries, services related to investment banking, corporate finance and other equity and debt linked products to corporate.

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