Carlyle, Multiples Invest US$41 Million in South Indian Bank QIP (Asia)
Source: VCCircle | Author: Madhav A. Chanchani
The Carlyle Group and Indian private equity firm Multiples Alternate Asset Management have acquired shares in the qualified institutional placement of publicly-listed South Indian Bank. The placement, which raised INR4.43 billion (approximately US$82.3 million), saw the participation of eight investors, including Carlyle and Multiples. Carlyle invested through its subsidiary, First Carlyle Ventures Mauritius, and acquired a 1.56 percent stake for INR600 million (approximately US$11 million), raising its total exposure to 4.72 percent. Multiples invested through two vehicles and acquired a 5.58 percent stake for INR1.6 billion (approximately US$30 million).