US-based PE Firm Exits Repco Home Finance, Garners Rs 471 Crore
Mumbai: US-based private equity firm Carlyle Group has offloaded its entire 17.74 per cent stake in Chennai-based Repco Home Finance Ltd for over Rs 471 crore.
The sale marks Carlye's final exit from the housing financing firm where it once held a 49 per cent stake.
First Carlyle Growth VI, the growth investment fund of private equity major Carlyle, sold a total of 1.10 crore shares in Repco through open market route on Thursday, representing a 17.74 per cent stake.
The shares were offloaded on an average price of Rs 427.56 valuing the transaction at Rs 471.50 crore. The stake sale has reaped many-fold gains to Carlyle.
The buyers included DSP Blackrock, Nomura India, FT India Prima Fund, Jupiter India, and SmallCapWorld Fund.
The private equity firm had invested about Rs 108 crore in Repco during 2007 and 2009, with Carlyle Asia Growth Fund picking up an around 49 per cent stake in the company.
Through Repco's IPO process, launched in March 2013, Carlyle had diluted a small portion of its stake. Later, the private equity firm had sold some of its holding to Wolfensohn Capital Partners and Creador.
Repco was incorporated in 2000 as a subsidiary of Repatriates Co-operative Finance & Development Bank Limited, a government of India enterprise.
It operates 91 branches and 32 satellite centres in Tamil Nadu, Andhra Pradesh, Kerala, Karnataka, Maharashtra, Madhya Pradesh, Gujarat, Odisha, West Bengal and Puducherry.
Shares in Repco, on Friday, ended at Rs 466.80 apiece on the BSE, down 2.20 per cent from the previous close.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
