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First Carlyle Growth Fund, the growth investment fund of private-equity major Carlyle, has made a complete exit from Non Banking Finance Company - Repco Home Finance.
In a block deal, Carlyle has sold its entire 17.7 per cent stake in Repco for a price of Rs 427.5 a share. Carlye was holding about 11 million shares in Repco.
The deal size is estimated at Rs 471 crore and Carlyle is learnt to have achieved a return of 9x from its six-year old investment. The buyers include DSP Blackrock, FT India Prima Fund, Jupiter India, Nomura India and SmallCapWolrd Fund. In 2008, Carlyle had invested about $28 million in Repco. Later, Carlyle made additional investments and raised its stake to 49.7 per cent. Through IPO process, Carlyle had diluted a small portion of its stake.
Before the IPO, Carlyle had sold about 24 per cent in secondary transactions to PE firms Wolfensohn Capital Partners and Creador.
