India

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

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