Former chief executive of Deutshe Bank, Asia Pacific, Gunit Chadha is making a comeback to the financial services and this time with his own Non-Banking Financial Company (NBFC).
He is coming back in the financial services after five years.
Named as APAC Financial Services, will initially invest more than Rs 100 crores in equity, Chadha will contribute to it.
Reportedly, APAC has hired Ambit Capital run by Ashok Wadhwa to generate another Rs 400 crore from the investors as the company has planned to be ready with enough capital buffer, to begin with even though it can manage with lesser capital.
“Our aim is to be in the lending space where on the one end you have the backing of collateral which is secured lending, and at the other end have assets that yield like unsecured loans,” said Chadha.
“There is lack of competitive intensity in both affordable housing and structured finance relative to the opportunity.”
