The Carlyle Group has generated proceeds of approximately INR70.3 billion ($951 million) through a partial exit from SBI Cards & Payments, the State Bank of India's (SBI) credit card issuing arm, through a recent IPO.
The private equity firm sold around 93.2 million shares for INR755 apiece, reducing its holding from 26% to 16%. The partial exit implies a return multiple of 8x on the initial investment. SBI continues...
The Carlyle Group achieved an 8x return through a partial exit via SBI Cards’ IPO. The private equity firm still holds a 16% stake and is a resolute believer in the growth potential of India’s credit card market
India's private debt markets lack coordination and standardization. Vivriti Capital hopes to fix this by bringing issuance online. LGT Lightstone Aspada has provided $50 million in support of this effort
MiningLamp Technology, a Chinese big data company, has raised $300 million Series E led by Temasek Holdings and Tencent Holdings. Kuaishou, a local short-video sharing platform backed by Tencent, also took part in the round.
AISing, a Japan-based developer of edge artificial intelligence (AI) technology used in industrial robots and self-driving cars, has raised JPY700 million ($6.5 million) in Series B funding.