I had written about how broking firms have become the new flavour of private equity firms. Now it seems Texas Pacific Group is close to picking up stake in Mumbai based broking giant Sharekhan (owned by SSKI Securities Ltd). Says a Times of India report:

Vivek Paul, the top shot executive who quit software-major Wipro six-months ago to venture into the exciting world of private equity, may ink his first deal in India. Texas Pacific group, where Paul is a partner, is expected to pick up 20-22% stake in retail broking outfit Sharekhan for about Rs 100-120 crore.

At Rs 425 per share, the deal values the firm, which is majority owned by city-based broking outfit SSKI, at Rs 500 crore. When contacted, Tarun Shah, CEO, Sharekhan said there were several options that the firm was looking at and private equity was one of those.

The other deals in the offing are in India Infoline Securities and Motilal Oswal.

Related:

Broking Firms New Flavour; Citigroup And ChrysCapital In Talks With India Infoline For Buying Stake

Posted on 12/28/05, 10:02 AM
in: Deals, Main Page, Private Equity
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