Carlyle exits Edelweiss, sells entire 8.2% stake for about Rs 870 crore

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MUMBAI: Private equity major Carlyle Group’s First Carlyle Venture Mauritius sold its entire 8.2% stake in Edelweiss Financial ServicesBSE 0.07 % for about Rs 870 crore on Friday at an average price of Rs 127.37, through bulk deal.

The fund, which bought Edelweiss shares between 2011 and 2014, made more than three times its investment. Goldman Sachs, GMO Emerging Markets Fund and NatWest Bank partly bought the shares, the stock exchange data showed.

Shares of EdelweissBSE 0.07 % ended up 0.1% at Rs 134.20 on the BSE on Friday. Carlyle had first picked up about 4% stake in Edelweiss in 2011 for Rs 86 crore and gradually raised it.

Carlyle’s exit comes at a time when Edelweiss stock has risen sharply in recent times. Edelweiss shares have risen 40% so far this year.

Edelweiss’ diversification from a broking entity into lending, insurance, asset management and wealth management have aided the company’s earnings.