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TVS Shriram Fund partly exits RBL with 30% IRR

Invested Rs 30 cr, partly exited with Rs 76.36 cr

T E Narasimhan  |  Chennai 

RBL Bank, which was listed on Wednesday, has given good exits for private equity investors that have stayed invested in the bank for six years. TVS Shriram Growth Fund sold 2,637,611 shares at Rs 289.6 apiece, which translates to Rs 76 crore. The fund invested Rs 30 crore in 2010; now it partly exited with IRR (internal rate of return) of over 30 per cent.

According to VCCircle, the fund sold 0.71 per cent stake, and now holds around 0.5 per cent. Earlier, Beacon India Private Equity Fund sold its 2.75 per cent holding in the bank. The fund invested $11.56 million in January ...

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First Published: Thu, September 01 2016. 22:47 IST