The Carlyle Group has increased its stake in India Infoline Group to 9% through secondary-market purchases. The US private equity firm did not disclose how much it has paid for the shares.
A Carlyle spokesperson confirmed that Carlyle had been accumulating shares since the summer. Based on the market price at which India Infoline shares have traded on the stock exchange this year, Carlyle would have shelled out around $50 million.
Devinjit Singh, Carlyle
India Infoline is a Mumbai-based retail and institutional brokerage that was founded by two professionals, Nirmal Jain and R Venkatraman in the 1990s. It...
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