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Mumbai, Dec. 6 Almondz Global Securities Ltd, a financial services company, on Thursday entered into an agreement with the Oman-based private equity investment firm Al Anwar Holdings SAOG to place 14.99 per cent of Almondz equity with the latter via preferential allotment of shares/warrants at Rs 85 a share.

The agreement was inked by Mr Vinay Mehta, Managing Director & CEO, AGSL, and Mr Qais M. Al-Yousef, Deputy Chairman, Al Anwar Holdings SAOG, jointly with Mr Krishna Kumar Gupta, CEO, Al Anwar Holdings SAOG.

This is the maiden investment by the Muscat Securities Market listed company in the Indian financial services sector. “This capital infusion will help us to aggressively grow our retail business. We see a strategic business fit between Al Anwar Holdings and Almondz. Al Anwar is focused on investments in the financial services space in West Asia. This tie-up will help Almondz foray into the West Asian markets,” said Mr Mehta.

This placement gives Almondz an enterprise valuation of Rs 232 crore.

SBI Capital Markets Ltd and Oman-based Gulf Investment Services Co were the advisors to Al Anwar Holdings SAOG for the private equity placement.

More Stories on : Financial Services | Alliances & Joint Ventures | Venture Capital

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