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This is an archive article published on October 6, 2011

Carlyle Group buys 9% in India Infoline

Private equity firm Carlyle Group has acquired 9 per cent stake in broking firm India Infoline (IIFL) through secondary market purchase of equity shares.

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Private equity firm Carlyle Group has acquired 9 per cent stake in broking firm India Infoline (IIFL) through secondary market purchase of equity shares.

While the company did not disclose the amount it paid for the acquisition,analysts estimate it to be around Rs 200 crore at the current market price of Rs 70.75 per share.

Carlyle becomes a key institutional shareholder in IIFL and will be invited to join IIFLs board to support its future development,subject to necessary approvals,IIFL chairman Nirmal Jain said in a statement here.

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The deal was carried through a subsidiary of Carlyle Asia Partners that has five major investments in the domestic financial services industry,including HDFC.

We are delighted to welcome Carlyle,a globally renowned fund,as a shareholder and partner in our growth. We hope to leverage our relationship with Carlyle to continuously grow and expand internationally, Jain said.

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