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Creador offloads more stake in Repco Home Finance

30 October, 2014

Private equity firm Creador, which is focused on India and Southeast Asian markets, has offloaded another chunk of its stake holding in housing finance company Repco Home Finance after selling two-thirds of its holding in the company early this month.

The PE firm sold 3,99,434 equity shares through open market transaction at a share price of Rs 470.07 each garnering Rs 18.78 crore (approximately $3 million). This represents 0.6 per cent.

Earlier this month it had sold 4.8 per cent stake in the housing finance company for Rs 141 crore ($23 million) generating high internal rate of return (IRR) on its two-year-old bet. It now holds around 2 per cent in Repco.

Creador had invested Rs 72.4 crore ($13.7 million) to buy 9.9 per cent stake in Repco in a secondary transaction where Carlyle sold part of its holding in the IPO-bound home finance company in late 2012. It had co-invested along-with Wolfensohn Capital Partners.

Repco went public in early 2013 and had a disappointing debut ending day 1 at a discount to its issue price but has seen its share price take flight since then and has tripled in the last one-and-a-half years.

Carlyle had fully exited its investment in the housing finance company with a multi-bagger with a 9x return over a horizon of almost seven years.

In April, emerging markets-focused private equity firm Wolfensohn had exited from its little over one-year-old investment in Repco Home Finance with 2x returns.

Creador’s other investments in India include plastic water tank maker Vectus Industries, tile manufacturer Somany Ceramics and Cholamandalam Investment & Finance.

Shares of Repco Home Finance Ltd ended at Rs 484.75 each, up 0.93 per cent on the BSE in a strong Mumbai market on Thursday.

(Edited by Joby Puthuparampil Johnson)


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Creador offloads more stake in Repco Home Finance

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