Wealth management firm Waterfield Advisors Private Limited has secured Rs 122.99 crore through a private placement of Series A compulsorily convertible preference shares (CCPS), according to regulatory filings accessed from the Registrar of Companies.
The company’s board has approved a special resolution to issue 1,092,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore.
Singapore-based Jungle Ventures V Investment Holding 1 Pte Ltd emerged as the largest investor, subscribing to 888,099 shares for Rs 99.99 crore. Promoter and director Soumya Rajan acquired 17,762 shares for Rs 2 crore.
Individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh, also participated in the round.
Compulsorily Convertible Preference Shares (CCPS) are a type of financial instrument that automatically converts into equity shares of the issuing company after a predetermined period or upon specific events.
They provide investors with fixed dividends while allowing for potential equity participation, making them a popular choice in startup financing as they help balance the interests of founders and investors while minimizing immediate ownership dilution.
Founded in 2011, Mumbai-based Waterfield Advisors provides bespoke wealth management services to ultra-high-net-worth individuals and family offices.
