Online payments solutions company BillDesk has raised over Rs 600 crore from US-based payment firm Visa. While Temasek Holding through Claymore Investments also participated in the round.
The development comes three months after media reports suggested that Visa will take a minority stake in the Mumbai-based company. The valuation of the 18-year-old company could be estimated at around $1.8-1.9 billion.
According to RoC filing sourced from paper.VC, Visa has put in Rs 537.06 crore for 2.46 lakhs equity share at a price of Rs 21,832.04 each. On the other hand, Billdesk received Rs 65.5 crore in lieu of 30,000 equity shares at the same rate from Claymore Investments.
The deal was, however, expected to be around $300 million as it was poised to get $200 million as a primary investment. Whereas, a secondary purchase of shares from existing investors and founders for $80-100 million was also speculated.
Billdesk was reportedly in talks with payment giants like PayPal and American Express. It was in search of a potential buyer as its PE investors seek the exit.