Financial Investors Group
Family offices thrive in tech-savvy startup world
30 Jun 2021
Salisbury Investments, a family investment vehicle by Aditya Puri, veteran banker and former MD and CEO of HDFC Bank, is betting big on PNB Housing Finance. The board of directors of the mortgage lender has nearly cleared a fund infusion by a clutch of other investors, including Salisbury. The deal is, however, hanging fire, awaiting a nod from regulators.
The proposed investment by Salisbury Investments— ?25 crore for 0.2% stake—is insignificant in the overall scheme of things of the proposed ?4,000 crore deal, but it represents a fast-growing tribe of Indian billionaires and ultra-high net worth individuals who are ploughing in their personal fortunes into growth companies and early-stage startups.