Stay updated with breaking news from Modulus Alternatives. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Companies that manage to raise funds through public listing, share sale to private equity or through the sale of assets prefer to pay up the credit availed from such funds, which are usually at near usurious interest rates, rather than waiting for the debt to mature.
Modulus Alternatives Investment Managers has invested INR 105 crore in Shivam Autotech as part of its commitment to invest INR 150 crore in the company. The investment will be used for growth and working capital. This is the first investment of Modulus Alternatives' second private credit fund, India Credit Opportunities Fund II.
Modulus Alternatives will invest $18 million in Shivam Autotech, while Unitis Ventures said it is joining forces with its US affiliate Capria Ventures.
Modulus Alternatives Investment Managers has invested INR 105 crore in Shivam Autotech as part of its commitment to invest INR 150 crore in the company. The investment will be used for growth and working capital. This is the first investment of Modulus Alternatives' second private credit fund, India Credit Opportunities Fund II.
The investment will be from the funds managed by Modulus Alternatives including its second fund - India Credit Opportunities Fund II, which Modulus Alternatives launched earlier this year with a target corpus of INR 1,250 crore. The fund has so far received capital commitments of more than ₹200 crore, sources said. Modulus Alternatives and Shivam Autotech did not respond to requests for comment.