Economic Times 26 February 2013
NEW DELHI: Homegrown private equity firm ChrysCapital has picked up 10% stake in Au Financiers, a non-banking financial company for Rs 120 crore.
At this price, the company is being valued at Rs 1,200 crore, which is 50% more than its previous valuation in March 2012 when WarburgPincus and International Finance Corporation (IFC) had acquired a minority stake in the company.
“ChrysCapital has acquired 10% stake in the company from the existing investors for Rs 120 crore,” the founding promoter and managing director of the company, Sanjay Agarwal, told ET.
ChrysCapital has picked up about 7% stake from Motilal OswalBSE 0.35 % Private Equity Advisors and the balance 3% from the Agarwal family. After the deal, promoters’ stake in the company has come down to 35%.
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