Wolfensohn part exits India's Repco

The exit came via a bulk transaction on the Bombay Stock Exchange (BSE), with Wolfensohn selling 3.46 million shares, at INR325 apiece, for INR1.12 billion ($18.6 million).

At the same time, Jupiter PAF Investments bought 1.2 million shares while ICICI Prudential Tax plan and ICICI Prudential Mutual Fund acquired 399,036 shares and 884,250 shares, respectively.

Repco was founded in 2000 and is headquartered in Chennai, Tamil Nadu. The company provides home loans across South India and adjacent areas, with 74 branches in eight states and one union territory.

According to a company disclosure, Wolfensohn had held 6.19 million shares or 9.96% of the company as of December 2013. The company's other private equity investors include The Carlyle Group, which holds a 17.7% stake; Creador, which holds 7.4%; and Reliance Capital, which holds 1.22%.

Carlyle originally invested around INR1 billion in Repco Home Finance through a number of transactions between 2007 and 2009, eventually acquiring a 49.7% stake.

The PE firm sold a little over 23% in secondary transactions to Wolfensohn and Creador. It also sold 2.78% to Antique Broking and Shardul Securities, raising a total of INR1.9 billion through all sales.

Repco went public in March last year.

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• Topics
• Financials
• South Asia
• Exits
• India
• Wolfensohn India Advisors
• The Carlyle Group
• Financial Services
• Exit