Private equity firm New Silk Route has sold its stake in Varsity Education back to the company’s promoters for 1,100 crore rupees (£10.7 million), The Economic Times has reported, citing unnamed sources.
Varsity Education runs a chain of schools in southern India.
New Silk Route purchased a 28% stake from the Boppana family, the company’s promoters, eight years ago for around 350 crore rupees.
The exit price represents a 3x return on New Silk Route’s original investment.
Date published: 6 July 2021