Comments
Pantomath Financial Services Group, which recently acquired Asit C Mehta Financial Services, has developed a network of 7,000 companies for potential listing on mid-market segment and working on capacity building of these growth stage companies for raising equity capital through private equity and public listing routes.
Mahavir Lunawat, Managing Director, Pantomath Capital Advisor, told businessline that the mid-market segment is more exciting segment as it captures the true India growth story and many of the family-owned business, especially in manufacturing segment from smaller cities, are showing keen interest in getting listed.
The recent Aeroflex Industries managed by Pantomath Capital had listed at a premium of 83 per cent at ₹190 a piece against the issue price of ₹108. It is currently trading at ₹147. The ₹351 crore issue of Aeroflex was oversubscribed by 97 times.
“We have already identified 7,000 family-run business which are in need capital for growth. We are hand-holding them to implement best practices and bring professionalism in business,” he said.
After pumping in money in these businesses and shaping their business, Pantomath will take them to tap the primary market, said Lunawat.
Cliqtrade Stock Brokers, jointly owned by Pantomath Group founders Mahavir Lunawat and Madhu Lunawat, has acquired 37 per cent stake in the Mumbai-based Asit C Mehta Financial Services for ₹75 crore through a combination of share purchase agreement from the existing promoters and open offer.
Lunawats will increase their stake to 51 per cent and the remaining shareholding will be split between existing promoters and public.
Following this Pantomath has become a complete finance services provider with business interest in stock broking, wealth management, mutual fund distribution, PMS, investment and merchant banking.
Pantomath Group has launched its category-II alternative investment fund, India Inflection Opportunity Fund, to raise Rs 500 crore for investment in growth stage companies and exit at the time of IPO. The Fund has already made two investments during the fund-raise period itself and NAV of the Fund increased to more than 1.7 times within a year of the first close. The fund closes on October 18.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.