Marwadi Shares raises second round of funding from UK-based Caledonia Investments

Rajkot-based equity broking house Marwadi Shares & Finance Limited has completed a second round of private equity placement from another UK-based Caledonia Investments Plc, after its first phase of investment from India Capital Growth Fund Limited in December 2006. Caledonia Investments has picked up a 19.67% stake in Marwadi Shares for around Rs. 42 crores. Marwadi Shares and Finance is a decade-old financial services group offering stock broking and commodity broking firm on the NSE, BSE, NCDEX and MCX.

Marwadi Shares has emerged as the fifth broking house in the country and the first broking house from Gujarat to have private equity placement from a foreign player. It had initially planned a route into the capital markets and raise about Rs. 60 crores through and initial public offering, but postponed the plan and instead decided to raise funds through private equity placement. The company has now revised its equity raising pattern from Rs. 60 crores to Rs. 73.5 crores and has managed to disburse a 33% stake.

Read the article in Business Standard.
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Rajkot-based broking house gets PE funding from UK-based India Capital Growth Fund