Carlyle exits India's Repco Home Finance

The sale is understood to represent a 9x return for the GP, which first backed the company in seven years ago.

Carlyle sold 11 million shares - or a 17.7% stake - at INR428 apiece. AVCJ Research data show that Carlyle paid INR760 million for just under half of the business in 2008. It then exited about 23% in two separate secondary transactions in 2013, selling 13.3% and 9.9% to Wolfensohn Capital Partners and Creador, respectively.

RHF was founded in 2000 and is headquartered in Chennai. The company provides home loans across South India and adjacent areas, with 91 branches - and 32 satellite centers - in eight states and one union territory. The company listed on both Indian exchanges in March last year, raising around INR2.7billion.

Wolfensohn exited its investment completely by selling 5.5% for INR1.12 billion via a bulk transaction.

RHF posted a net profit of INR1.1 billion for the financial year ended March 2014, against INR800 million the previous year. The company's stock closed at INR477.3 on the Bombay Stock Exchange yesterday, down 0.01% in flat market.

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