Ex-Reliance Industries CFO joins Modulus as equity partner
He will enter with 17.3% equity stake, which is set to increase over a period of time. Modulus is raising its second fund, targeting growth in the Indian private credit market, projected to be a $100-billion opportunity.
Mumbai: has brought in , former chief financial officer, , as an . He will play a crucial role in Modulus Alternatives' and fund raise.He will enter with 17.3% equity stake, which is set to increase over a period of time. Modulus is raising its second fund, targeting growth in the Indian private credit market, projected to be a $100-billion opportunity.
Modulus Alternatives is promoted by . Chandir Gidwani and Jaspal Bindra are the promoters of Centrum Capital. Centrum has been in the financial services sector for over two decades with presence across investment banking, broking, wealth management, affordable housing finance, retail broking, AIFs in private debt and venture capital, MSME loans, and microfinance through Unity Small Finance Bank.
"Alok Agarwal is coming as a shareholder in the AIF, and the percentage is going to be a larger one than what he's entered with," said Bindra. "It is like a joint baby now for both of us, so he'll run it like a co-owner of the AIF." Alok Agarwal's entry into Modulus comes with an equity stake, set at 17.3%, which is expected to increase to around 30% over time.
Source: Stocks-Markets-Economic Times
