Investor: Orient Global
Investment Value: $139mn
Harshad Apte, Vice President, Strategy and Planning,
India Infoline comments to 4Ps B&M, “The rationale behind the deal was very simple and it was capital required for growth of our various businesses.” Talking on how they see the association with Orient Global going forward, Apte adds, “This is a long term association.” Orient Global has entered into this deal primarily as a financial investor. The subsidiary of India Infoline Investment Services, Moneyline, will make use of the group’s expansive network of 600 branches to provide credit to a large segment of the populace, which currently does not have access to organised credit. Moneyline plans for an active presence in 60 cities by the end of 2008. Moneyline hopes to deliver superior services and offer a pleasant overall borrowing experience to the customer.
Orient Global bought a 6.48 % stake in Infoline Ltd. for a consideration of Rs.555 crore ($139 million). Orient Global has invested approximately Rs.1,000 crores in India Infoline and its subsidiaries that include Rs.141 crores in India Infoline Marketing Services for a 10% stake, and Rs.300 crores in India Infoline Investment Services for a 22.5% stake. The capital provided by Orient Global will be used to expand the holding company’s (India Infoline Ltd.) branch network, establish call centres, invest in new technology and set up training facilities and for general corporate purposes. India Infoline has emerged as a dominant player in the broking and insurance distribution space. The capital raised through this deal will help the group to further grow these businesses. The fund infusion in India Infoline Investment Services will be used for expanding business activities of its subsidiary, Moneyline, which is in the business of personal and auto loans, and India Infoline Housing Finance, which is into the business of home loans.
Investment Value: $139mn
Harshad Apte, Vice President, Strategy and Planning,
India Infoline comments to 4Ps B&M, “The rationale behind the deal was very simple and it was capital required for growth of our various businesses.” Talking on how they see the association with Orient Global going forward, Apte adds, “This is a long term association.” Orient Global has entered into this deal primarily as a financial investor. The subsidiary of India Infoline Investment Services, Moneyline, will make use of the group’s expansive network of 600 branches to provide credit to a large segment of the populace, which currently does not have access to organised credit. Moneyline plans for an active presence in 60 cities by the end of 2008. Moneyline hopes to deliver superior services and offer a pleasant overall borrowing experience to the customer.Orient Global bought a 6.48 % stake in Infoline Ltd. for a consideration of Rs.555 crore ($139 million). Orient Global has invested approximately Rs.1,000 crores in India Infoline and its subsidiaries that include Rs.141 crores in India Infoline Marketing Services for a 10% stake, and Rs.300 crores in India Infoline Investment Services for a 22.5% stake. The capital provided by Orient Global will be used to expand the holding company’s (India Infoline Ltd.) branch network, establish call centres, invest in new technology and set up training facilities and for general corporate purposes. India Infoline has emerged as a dominant player in the broking and insurance distribution space. The capital raised through this deal will help the group to further grow these businesses. The fund infusion in India Infoline Investment Services will be used for expanding business activities of its subsidiary, Moneyline, which is in the business of personal and auto loans, and India Infoline Housing Finance, which is into the business of home loans.
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