NSR sells back 28% stake in Varsity Education to promoters for Rs.1,100-Cr at 3x RoI

Private Equity firm New Silk Route has sold its stake in Hyderabad-based Varsity Education back to the company's promoters for INR 1,100 crore. Varsity Education runs a chain of schools under the Sri Chaitanya brand across South India. NSR had purchased a 28% stake from the Boppana family, the company's promoters, eight years ago, at an estimated price of INR 350 crore. The exit price is a 3x return on its original investment. The deal pegs the value of Varsity Education at close to INR 4,000 crore.