Veterans script a new plot in shadow banking, raise Rs 4,000 cr in equity

Veterans script a new plot in shadow banking, raise Rs 4,000 cr in equity

In 2005, Jaspal Singh Bindra cut a cheque of $3.3 billion for Standard Chartered Bank’s purchase of Korea First Bank. “Nowadays, I chase investors for Rs 50-100 crore,” says the Centrum Group’s executive chairman, and former group executive director at the UK-based bank.

It’s not as bad as he puts it — the firm is in talks with Morgan Stanley Private Equity to offload a 20 per cent stake in Centrum’s housing finance arm, valuing it at over Rs 1,000 crore. But surely, a global banker’s business card opens more doors than the head of a shadow …

 

Source: www.business-standard.com