Liquidity Events
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.
From the Venture Intelligence PE-VC Deal Database: Between Mar-11 and Apr-13, Varsity Education had raised over $76-M from New Silk Route. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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