The Hindu Business Line : Motilal Oswal plans $100 m pvt equity fund

Motilal Oswal Securities Ltd (MOSL), a stock broking firm, is planning to launch a $100 million private equity fund in the next quarter. The money will be raised from overseas and domestic investors for investments in mid-stage and early stage companies in India, said Mr Motilal Oswal, Chairman & Managing Director, MOSL.

"We hope to complete the fund raising exercise (for private equity fund) by the end of September," Mr Oswal said. "We will not be looking at any specific sectors. Ours would be a top down approach (in terms of selection of companies for private equity investment)," he said. The move is part of the company's plans to emerge as a leading full-fledged financial services firm.

Investment banking will be another key focus for the company. "Our strength is the experienced people that we have brought into our investment banking team. We have a team of 15 people in the investment banking division," Mr Oswal said. This segment will focus on M&As (mergers and acquisitions) deals, structured finance, IPOs and debt mobilisation for companies. After its recent foray into the investment banking area, MOSL acted as the advisor for Aban Lloyd in the latter's acquisition of 33.7 per cent stake in Norway-based Sinvest ASA.

MOSL, which is also into wealth management and portfolio management services, will leverage upon its research, relationship and distributional network to expand business in each of the segments, he said.

In the stock broking space, MOSL had acquired three regional stock broking outfits in the South (one each in Andhra Pradesh, Karnataka and Kerala) in recent past. Asked if more acquisitions were on the agenda, Mr Oswal said the company was open to the idea, but added that nothing was in the pipeline for the moment.

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