January 26, 2015 6:30 AM ET

Capital Markets

Company Overview of Destimoney Enterprises Private Limited

Company Overview

Destimoney Enterprises Private Limited operates as a financial services company for investors in India. It offers transaction statement, holding statement, holding valuation statement, electronic contract note, Demat, IPO, mutual fund, derivatives, and commodity related services. The company also offers financial planning; and loans, mutual funds and equity broking, and wealth advisory services. It has a strategic partnership with Artha Money. Destimoney Enterprises Private Limited was formerly known as Dawnay Day AV Financial Services Private Limited and changed its name to Destimoney Enterprises Private Limited in 2008. The company was incorporated in 2005 and is based in Mumbai, India.

B1, G-01 Marathon Innova

Marathon Nextgen

Opposite Peninsula Corporate Park, Office G.K. Mar

Lower Parel West

Mumbai,  400013

India

Founded in 2005

Phone:

91 22 6617 2222

Fax:

91 22 6617 2099

Key Executives for Destimoney Enterprises Private Limited

Chief Investment Officer of Equities
Compensation as of Fiscal Year 2014.

Destimoney Enterprises Private Limited Key Developments

Carlyle Reportedly Set To Acquire Destimoney From NSR

The Carlyle Group LP (NasdaqGS:CG) has come up as a frontrunner in race to acquire Destimoney Enterprises Private Limited from New Silk Route (NSR). According to the sources, the potential transaction is valued at INR 12 billion. The news report mentioned that formal announcement is due in the coming weeks. An official added, “Carlyle will most certainly buyout NSR from the housing finance JV. Last moment discussions are still on for the residual businesses like broking, distribution and I banking, which are much smaller in scale and size.” The news report mentioned that NSR and Carlyle's spokespersons declined to comment on the matter. Since 2013, NSR has been trying to monetize Destimoney investment and has had discussions with firms like General Atlantic LLC, Actis Capital, LLP, ChrysCapital and GIC Pte. Ltd. However, talks with most fell through.

Sale Of Destimoney Expects To Be Delayed

Sale of Destimoney Enterprises Private Limited is expected to be delayed. The recent exit of the Punjab National Bank (PNB) Chairman is learnt to have affected the sell-out discussions between the promoters of Destimoney and private equity investors. The deal is expected to be in the range of INR 1,000-1,200 crore.

Chryscapital-GIC Team Emerges As Front-Runner In Race To Buy Destimoney

A consortium of ChrysCapital and GIC Pte. Ltd. has emerged as the front-runner to purchase New Silk Route's (NSR) 100% stake in Destimoney Enterprises Private Limited. "They seem to have gained a clear edge over rival bidders", said a person directly involved with the transaction. The deal may value the company between INR 10 billion and INR 11 billion. NSR has mandated Morgan Stanley to sell Destimoney. Actis Capital, LLP and General Atlantic LLC had also participated in the bidding. While New Silk Route's Chief Executive Officer Parag Saxena did not reply to email questions on the subject, Destimoney's Managing Director and Chief Executive Officer Sudip Bandyopadhay declined comment.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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