KKR India Asset to buy stake in Motichand Finance

KKR India Asset Investments PTE Ltd, part of Kohlbert Kravis Roberts & Co. (KKR Group) to acquire Chennai-based Motichand Finance Pvt Ltd, a non-banking finance company. The global firm is planning to acquire entire control through different modes.

Mothichand finance is planning to issue equity shares to KKR India Asset Investment, which will subscribed to more than 50 per cent of the total equity share capital of the company.

Post the proposed subscription, KKR Capital Markets India Pvt, which is also existing shareholder in the company, proposes to transfer its entire shareholding in the company to KKR India Asset.

Pursuant to the proposed subscription and proposed purchase, KKR India Asset would own effectively 100 per cent of the equity share capital of the company, said KKR India Asset, without disclosing the value.

The purpose of the Subscription is to funs the business plan of the company, said the company

The company ruled out any possibility in any change in control or management since the acquirer is controlled and managed by KKR Singapore Pte. Ltd.