Date:27/09/11,
Corporate Management,
Varun Bajpai, CEO, SBI Macquarie Infrastructure, has resigned. Bajpai is moving to Violet Arch Capital Advisors, a start-up fullservice financial firm, in which he has sweat equity along with Sanju Verma, former HDFC Securities' executive director.
Violet Arch hit the limelight when it acquires Alchemy Shares & Stock Brokers in August from its promoters, one of whom is the billionaire investor Rakesh Jhunjhunwala. The firm has retained almost 60% of Alchemy's staff. Valued at $60 million, Violet Arch has $20 million of committed capital via strategic infusion from a clutch of investors, a person familiar with the transaction said.
An investment arm (non-banking finance and infra) of the Srei Group is learnt to have acquires a 20% strategic stake in the venture. This development, however, could not be independently confirmed. The other strategic investors include the New York-based boutique investment bank Berenson and a leading corporate house.
Violet Arch hit the limelight when it acquires Alchemy Shares & Stock Brokers in August from its promoters, one of whom is the billionaire investor Rakesh Jhunjhunwala. The firm has retained almost 60% of Alchemy's staff. Valued at $60 million, Violet Arch has $20 million of committed capital via strategic infusion from a clutch of investors, a person familiar with the transaction said.
An investment arm (non-banking finance and infra) of the Srei Group is learnt to have acquires a 20% strategic stake in the venture. This development, however, could not be independently confirmed. The other strategic investors include the New York-based boutique investment bank Berenson and a leading corporate house.
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