Indian private equity firm Multiples Alternative Asset Management has gotten about 5 billion rupees ($58.5 million) of private credit to back its acquisition of a controlling stake in digital product engineering platform QBurst Software Services, according to people familiar with the matter.
HSBC Holdings Plc and Nomura Holdings Inc provided the debt, which is in the form of non-convertible debentures — a typical structure of many private credit deals in India, the people said, who asked not to be identified discussing a private matter. The NCDs, which are publicly listed on the Bombay Stock Exchange to meet regulatory ...
