Brief: Investcorp Sells Its Stake In Leading Luggage Maker, Safari Industries

Safari Industries (INDIA)

08/09/2023 04:53

Sept 8 (Reuters) - INVESTCORP:
    * ANNOUNCED THE SUCCESSFUL EXIT OF ITS INVESTMENT IN THE
PUBLICLY
LISTED SAFARI INDUSTRIES, WITH AN INTERNAL RATE OF RETURN (IRR)
OF MORE THAN 100% ON THE DEAL
    * INVESTCORP INVESTED INR 75 CRORE IN SAFARI INDUSTRIES IN
FEBRUARY 2021
    * INVESTCORP EXITED IT’S STAKE IN THE COMPANY IN THREE
TRANCHES
OVER THE COURSE OF THE LAST  twelve  MONTHS, REALISING A TOTAL
RETURN OF INR 285 CR AT 3.8X MULTIPLE ON INVESTED CAPITAL (MOIC)
FROM THE INVESTMENT


 ((Reuters.Briefs@thomsonreuters.com;))