Comments
Baring India has divested part of its stake in Manappuram Finance Limited for over Rs 700 crore.
Baring India had invested in Manappuram Finance Limited in 2011-2013. It has exited recording a 6.4x times money and 29 per cent IRR on its investment.
In 2017, Baring Private Equity Partners sold 3.77 per cent stake in the Kerala-based gold loan company for about Rs 300 crore.
Baring PE India had held 12.57 per cent stake in the firm through two entities, Baring India Private Equity Fund II and Baring India Private Equity Fund III (Fund 3). Barring PE bought this stake between 2011 and 2013.
A Baring India spokesperson said, "Baring India has been consistently outperforming public equity benchmarks by 1,600 bps over last two decades. The firm’s disciplined top-down approach and strategy of working with portfolio companies across a spectrum of deals including minority stakes in companies like Muthoot, Marico, Dabur, Indoco Remedies and majority stakes in companies like BFL software and JRG Securities has resulted in attractive life-to-date return of over 28 per cent Gross IRR across 50 plus investments.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.